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IoT as a Service: Lowering the Cost Barrier of IoT for Small and Mid-Sized Businesses
DICK WEISINGER | March 18, 2020
Higgns is an embeddable IoT platform that runs at the edge and enables development of products and services for connected devices.
Article | April 16, 2020
Tech companies are stepping up Internet of Things technologies to protect against COVID-19 and future viruses by using LiDAR and infrared cameras to detect a person’s body temperature from a distance or even handwashing. Keeping the data secure in such detection is also going to be a challenge. One approach is to put a chip inside an IoT device when it is manufactured to enable strong authentication and secure communication, mainly to guard against device counterfeiting. Hitachi Vantara has touted forward looking infrared cameras (FLIR) cameras to detect the temperature of a person from a distance. That way a passenger on a train or a worker or a customer in a store can be non-intrusively screened, according to a blog from Mark Jules, global vice president of smart spaces and video intelligence.
Water is one of our most precious resources. Yet every year, we lose more than 126 million cubic meters globally to leaks, poor metering and theft. Beyond that is the energy wasted moving water that never gets used. It adds up to staggering economic – and environmental – costs. It also presents one of the most compelling opportunities to use industrial IoT solutions. Water utilities can use IoT to address two fundamental aspects of water management: maintaining the physical infrastructure and addressing water safety and sustainability. With IoT sensors throughout a water utility’s infrastructure, it becomes possible to. In many ways, these uses mirror what’s possible in manufacturing. But while factory floors are condensed environments – with all assets located in a confined area – water utilities operate highly distributed environments. Reservoirs, pipes, pumps and other assets are spread across a massive physical footprint. Such environments introduce some unique challenges. One of the most pressing is cost. Capturing data across a massive infrastructure – and moving it to the enterprise and/or cloud – is a heavy lift. That’s especially true when considering the criticality of timely transmission and analysis of water data. Any delay can contribute to continued losses.
There’s been so much buzz about the Internet of Things (IoT) in the past couple of years. For today’s youngsters, the day will come when a computer is no longer seen as a separate object or device. With technology very much entwined in the basic fabric of everyday living, our children might feel offended if their obedient room lamp doesn’t immediately acknowledge their presence by switching itself on. Over time, IoT will be a mindset rather than a steady stream of technology. Even though every other device in our homes, workplaces, or surrounding environments will be intelligent enough to connect and talk to each other, people will inevitably focus on the transformational possibilities for our world.
5 years ago, when we forecasted that the IoT platforms market would have a 5-year compound annual growth rate (CAGR) of 35%, we wondered if our growth projection was unrealistically high.
5 years later, it has become apparent that the forecast was actually too low. The IoT Platforms market between 2015 and 2020 grew to be $800 million larger than we forecasted back in early 2016, resulting in a staggering 48% CAGR.
Comparing what we “knew” back in 2016 to what we know today provides some clues as to why the market exceeded expectations so much. 5 years ago, no one really knew what an IoT platform was, let alone how big the market would be, which business models would work, how architectures would evolve, and which companies/industries would adopt them. The only thing that was “known” was that the IoT platforms market was a billion dollar “blue ocean” opportunity ready to be captured by innovative companies.
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