IoT (the Internet of Things) is the prime driver of digital transformation for the enterprise, and IDC predicts that IoT market spend will reach $1.4 trillion (€1.19 trillion) by 2021. That’s a big number – but it’s in contrast to the statistic that shows as many as a quarter of all companies quit transformation projects before completion.
There is a lack of knowledge around IoT implementation, says Alon Segal, chief technology officer at Telit. Ask most people to describe the IoT, and they’ll most likely talk about billions of devices. There will be an underlying assumption that this network of devices makes it possible and affordable to collect accurate business information, process it into actionable knowledge, transmit it to the right person and take decisions that improve business performance.
Today’s competitive markets demand creative and innovative solutions and doing all this, it is assumed, will allow businesses to solve problems, develop new applications and stay ahead of the game. But that vision will not materialise until the complexity behind the implementation is removed.
Many large players who should be in this market are not yet fully engaged. The reality is a complicated, messy network of incompatible bearers and devices that resemble a badly-cut jigsaw puzzle. And very few enterprises have the required knowledge to make it all fit together.
The addressable market is huge; numerous verticals can – and eventually will – benefit from the implementation of the IoT. These include asset tracking, healthcare, security, telematics, point of sale, wearables, telemetry, industry, energy, smart metering: the list goes on. In fact, IoT will benefit any sector where data is of value, so arguably the opportunities are limitless.
But to become those data powerhouses, enterprises need more information, more guidance and more help to leverage the potential. For many organisations, a successful transformation will stand or fail on the ability of the business to sift, measure, analyse, and respond to the data that it needs; and that it can collect efficiently and effectively from its customers, or its machines, operating systems and personal devices.
However, the complexity of actually creating this IoT is their biggest roadblock to the transformation the data could deliver. We need to remove complexity, remove unnecessary costs and introduce simplicity – and that means making all the elements of the IoT work together seamlessly.
In short, the future success of the IoT will be underpinned by interoperability. But there is currently no single standard in this space, there is no single means of interconnect. The data can come from multiple sources and, given the sensitivity of some of the data that will be handled, interoperability across the IoT needs to be both open and secure at the same time. Gartner cites that more than 50% of all IoT projects are expected to expose sensitive information in 2020 due to the failure of hardware security, a significant increase from less than 5% in 2016.
This means the path to simplicity begins by aligning the data whatever the source. It requires federating and normalising data from multiple sources so that it […]
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Read more here:: www.m2mnow.biz/feed/Posted on: June 14, 2018