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IoT: Challenges and Opportunities
| March 1, 2016
Nova Measuring Instruments Ltd. is a leading provider of advanced, high-throughput metrology solutions for semiconductor manufacturing worldwide...
Article | March 16, 2020
We live in an era of digital transformation where more and more devices are connecting to bring new and innovative levels of service and efficiency. This transformation spans across all markets and the rate of progress is breath-taking, says David Maidment, director, secure device ecosystem at Arm.This change brings huge benefits, but it also brings threats in the shape of an expanding cybercrime footprint. Every connected device is a hack potential. Rather than attacking traditional IT equipment, the cybercrime threats start to move to all aspects of our lives. It is predicted that by 2021 there will already be US$6 trillion (€5.37 trillion) of cybercrime damage (Source: Cybersecurity Ventures Official Annual Cybercrime Report), which is a staggering number pinned against financial loss for businesses, without considering the damage to reputation and other harder-to-measure statistics.
If you own smart home products like SmartThings or Nest, you may be familiar with some of the technologies behind them. Network protocols like Zigbee and Z-Wave dominate the industry, while Thread, a younger network standard, is gaining headway as a strong contender in the battle for market share. Although this may seem like your typical rivalry between industry leaders, the competitive landscape is more complicated than selecting one over another.
Energy management and efficiency utilization are the challenges for building owners, facility managers, and tenants. With the traditional metering solutions, building owners can’t measure accurate consumptions, usage patterns, and downtimes. It is simple: You can’t manage if you can’t measure. Building owners and tenants have been speculating about bettering and changing their approach to optimize energy consumption by deploying smart submeters. In contrast to traditional electrical meter, a smart submeter is infused with network connectivity features to upload the data. They track, monitor, measure, and upload data to servers for real-time visibility. Earlier building owners used to bill according to the space occupied by the tenants. Think about inaccurate billing – have you ever seen a bill that confused you?
IoT has a massive scope and too many requirements that can leave even the best of telecom operators clueless. With exalted predictions in the near future (some estimate that IoT devices will cross the 40 billion mark by 2025), the pressure on IoT service providers is immense. There is a need to automate the management of connected devices and sensors, which is why a comprehensive IoT platform has become the need of the hour. Every single one of these platforms plays a huge role in the overall functioning of sensors and devices that form the entire IoT universe. An IoT platform serves as a middleware that connects devices/sensors. It contains an assortment of functions such as controllers and sensors, a communication network, a gateway device, translating and data analysis software along with end application services. IoT platforms are equipped to handle vast quantities of data, applications, subscribers, websites, sensors and devices, and at the same time triggers actions according to the input, in real-time.
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