Common sense meets the Internet of Things (IoT)

Written by on February 20, 2015 in Opinion with 0 Comments

IconsWe are not alone in thinking that the IoT was veering into the land of cartoons. Alex Brisbourne, Chairman of the trade body that supports the world of IoT is not scared of criticising the ‘shiny thing’ mentality and the notion that if something can be connected, it should be connected.

The IMC has published a piece of research into the arena carried out by Beecham Research. The objective was to find out what customers’ expectations were for the next few years. Vendors of IoT solutions were barred from taking part in the research. The sample from IMC members came from six vertical markets (energy, logistics, healthcare, retail, building & construction, and smart cities), with 32% reporting from Europe, 24% from North America, and 15% from Asia.

Far from cartoonish, the survey showed that those who intend to implement IoT technology in the next three years are very serious indeed. The buyers expect over 14 percent of their IoT deployments to incorporate more than 250,000 connected devices in three years’ time. This is a huge increase on current deployments.

The most interesting insight from the study is that there a move – which is similar to other arenas that are emerging – away from the belief that IoT solutions will simply cut costs. Now, respondents are looking at new and added revenue streams emerging as a result of implementing the technology.

The example of the connected fridge is still fresh in the memory, like, presumably, the milk and bad jokes that abound. The reality is that if you start from simple, common sense use cases then we should indeed welcome the IoT. The diagnosis and treatment of diabetes, for instance, will save healthcare providers huge sums of money and provide a great service for patients.

The IoT is a $19 trillion opportunity, according to Cisco. The question is ‘for whom?’ There will be precious little margin in simply providing connectivity, except where quality of service is of obvious value. Whether there is money to be made from the data that will be collected as part of the service remains to be seen.

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Alex Leslie

About the Author

About the Author: Alex was Founder and CEO of the Global Billing Association (GBA), a trade body focused on the communications sector. He is a sought after speaker and chairman at leading industry conferences, and is widely published in communications magazines around the world. Until it closed, he was Contributing Editor, OSS/BSS for Connected Planet. He is publisher of DisruptiveViews and previously BillingViews. .

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