IoT Data Exchanges Services Set to Transform IoT Landscape
August 22, 2017 | ABI ResearchEstimated reading time: 1 minute
The Internet of Things (IoT) ecosystem is set to bring forth a myriad of new technologies, devices, and communication protocols, all fighting for dominance as established and new vendor entrants attempt to get a bigger slice of the market. However, ABI Research believes that it is also evolving at such a rapid pace that its future will bring forth a whole new spectrum of data analytics and related services. This is not only set to transform the IoT landscape but also shift the focus of how companies operate in the coming years by emphasizing data exchange as a new form of currency.
A significant percentage of companies are witnessing this shift but very few of them have a strategy in place. Even leading vendors across multiple sectors are aware that they are sitting on a treasure trove of customer and machine data but are unable to monetize it to its full potential.
“IoT data sharing, exchanging, and even selling initiatives will not be just additional aspects of the IoT environment. These services are actually the next evolutionary step”, comments Dimitrios Pavlakis, Industry Analyst at ABI Research. “From the creation of application enablement platforms and innovative management services, to artificial intelligence and machine vision applications, we will experience transformative data governance and exchange services between all intertwined verticals.”
A few industry leaders are taking active steps to address these future opportunities while driving this transformation. Gemalto’s IoT platform allows for both original equipment manufacturers and cloud service providers to implement flexible monetization models. Ericsson is also at the forefront of monetizing the IoT, tackling connectivity, data management, and analytics. Bosch’s platform bridges open source applications and open standards with cloud services and IoT projects. ABI Research forecasts that in 2017 the total installed base of connected devices will reach 27 billion. This number is expected to hit 55 billion by 2022, further fueling the IoT shift.
Suggested Items
Real Time with… IPC APEX EXPO 2024: Operational Excellence and Smart Factory Initiatives
04/30/2024 | Real Time with...IPC APEX EXPOOperational excellence and operational efficiency are defined in this interview with Koh Young General Manager Joel Scutchfield. He touches on automation, AI, and collaboration as solutions to resource limitations. Koh Young's data-driven approach uses AI for process adjustments, data analytics, and supply chain enhancements. The discussion underscores the shift toward smart factory initiatives and the future of manufacturing, with a focus on reshoring, nearshoring, and technology utilization.
IDTechEx Report on Quantum Technology: Nano-scale Physics for Massive Market Impact
04/30/2024 | PRNewswireThe quantum technology market leverages nano-scale physics to create revolutionary new devices for computing, sensing, and communications. Across the industry, quantum technology offers a paradigm shift in performance compared with incumbent solutions.
NASA’s Optical Comms Demo Transmits Data Over 140 Million Miles
04/30/2024 | NASA JPLNASA’s Deep Space Optical Communications experiment also interfaced with the Psyche spacecraft’s communication system for the first time, transmitting engineering data to Earth.
Real Time with… IPC APEX EXPO 2024: Insight into Summit Interconnect's Success
04/30/2024 | Real Time with...IPC APEX EXPOShane Whiteside, CEO of Summit Interconnect, discusses the company's recent recognition as one of the best PCB fabricators in the industry by receiving IPC's Peter Sarmanian award. Whiteside touches on the impact of changes in the marketplace, such as the Defense Production Act and presidential determination, on their growth. Whiteside also shares the company's focus on mechanical and data automation to enhance manufacturing processes and anticipates more automation and evolution in the industry.
Koh Young Showcases Award-winning Inspection Solutions at SMTconnect with SmartRep in Hall 4A.225
04/25/2024 | Koh Young TechnologyKoh Young Technology, the industry leader in True 3D measurement-based inspection solutions, will showcase an array of award-winning inspection and measurement solutions at SMTconnect alongside its sales partner, SmartRep, in booth 4A.225 at NürnbergMesse from June 11-13, 2023. The following offers a glimpse into what Koh Young will present at the tradeshow: