The curious case of Internet of Things (IoT)
The world is moving towards ‘Digitalization’ and the vision IoT (Internet of Things) is quickly moving into ideas and then reality. Domains like Telecom, Banking and Utility have started implementing IoT use cases to make this world a connected ecosystem that’s more excited to live, in fact, do business.
Internet of Things (IoT) has become a new trend that, while offering enormous opportunities, it also bring up equal challenges with complications that spans across the areas of security, privacy, revenue share, smart contracting, customer satisfaction and many more – as new use cases are being unearthed day by day while we approach the core of ‘Smartness’ concept of ‘Digitization’.
At the core the concept of IoT is very simple. IoT is about connecting devices to the Internet. It’s not just about Smartphone, Tablets or Laptops – “But, about Connecting Everything with an on and off switch. It has the potential to transform cities” – World Economic Forum 2016.
Globally IoT has become the epic center of mind boggling predictions and discussions by analytical firms, it says;
• There will be 50 billion devices connected to the Internet by 2020 – Cisco.
• IDC suggests that by 2020, IoT market revenue will be $7.1 trillion
• McKinsey predicts an annual $11.1 trillion in economic value by 2025.
• Nearly $4.8 trillion in aggregate IoT investment between 2016 and 2021 – Business Insider
• Gartner forecasts that by 2020, there will be more than 250 million connected vehicles.
At the same time there is yet another interesting finding by the Global Economic forum survey (2016) that, about 88% of business is unprepared for the industrial IoT. This is an interesting observation when the entire world is talking about reaching greater milestones in the digital space by the end of 2020 or 2025.
The Evolving Digital Market Space
AT &T in the USA is one of the pioneers to offer digital security solutions or smart homes in collaboration with other OEMs. They have bundled smart security solutions with automation to provide to cater different customer needs that helps its consumers to choose the best ‘Digital Life Package’. The diversity of the digital life package ensures that the customers get state of the art solution to not only monitor their home with security devices, but can also avail additional features like control home temperature, water temperature and small appliances, monitor water leakage and get real time alert and notifications as well to their preferred phone numbers or emails to have timely attention on the need.
Du in Dubai has an interesting product portfolio to offer multiple solutions to residential and enterprise customers. The smart home solution is in association with FIBARO, a smart home vendor offering its solution in the international markets. Du also have enterprise cloud solutions with bundled services for business customers that offers traditional voice, data along with devices, business emails, cloud storage, office 365 applications and 24/7 support.
The Roads and Transport Authority of Dubai has introduced the ‘m-parking’ system that allows residents or visitors to park their vehicle using their mobile balance. This was done in collaboration with regional telecom service providers like Etisalat and Du and was rolled out as a value added service using SMS for Dubai registered vehicles. The end customer was benefitted in different ways as they don’t have to carry coins or cash, have no worries about timelines as there will be SMS reminders and you can simply extend your time if you have sufficient balance with your mobile account. Basically it’s convenient, easy operate and legal.
There are endless possibilities as many vendors are digging their way to be part of this exciting journey towards smarter cities. In India, the Government has unleashed its vision and approved a massive project to transform some selected cities across the region into Smart Cities.
About ELVICTO Technologies
With about 10,000 vehicles being deployed on the roads everyday in India, this number is only looking to increase in the coming years as our standard of living rises, it is quite evident that parking will be a major issue for every car owners. On an average a person spends about roughly 20 minutes per day in search of a parking space which accumulates to about 122 hours in a year per person!!!
ELVICTO Technologies is the pioneer in introducing and leveraging Low power and Low cost wireless technology that offers a truly innovative and cost effective Digital Smart Parking Solution powered by Wireless Sensors, Scalable gateways and Cloud based hosting (private/Public) in partnership with ICFOSS, Technopark, Kerala. In the very first year after its inception in the market as a thought leader, we had been recognized as the ‘First official Open IoT platform of Kerala’ by the Hon’ble IT secretary of Kerala.
To know more about ELVICTRO TECHNOLOGIES and The Digital Smart Parking Solution ‘ELPARK’, please write your queries to email@example.comPosted on: January 11, 2020admin