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Growth of IoT

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Growth of IoT

The rapid growth of IoT is being driven by the tangible results that businesses of all sizes and from all industries are seeing as a result of IoT projects. By using embedded SIMs, connected devices can engage in two-way communications with central systems, either transmitting real-time data from sensors or receiving instructions on how to act. This opens unlimited possibilities for companies including achieving higher efficiency, launching new connected services and business models, improving customer success management or gathering advanced business intelligence. International Data Corporation (IDC) forecasts that worldwide spending on IoT will reach $1.29 trillion by 2020. (International Data Corporation 2017)

 

Why is it Happening Now?

IoT is the result of mature, mobile network technologies and globalization coming together. Recent years have seen digital technology act as the catalyst for globalization; as a result, enterprises no longer operate as local entities but serve an increasingly multinational customer base. Together, mobile technology and infrastructure have evolved to the point that they have the reliability, ubiquity, and performance to provide consistent communications all over the world.

As enterprises become ever more interconnected, this offers a cost-effective way to work across multiple regions. The consolidation of the data generated then allows businesses to understand both their customers and operations, to generate efficiencies and enhance their business models.

 

The Future

Right now large organizations are driving the growth of the IoT market. Enterprises – and even networks – should start working with specialized agencies to deliver IoT connectivity that is tailor-made to suit the needs of enterprises rolling out global projects.
IoT devices are set to surpass mobile phones as the largest category of connected devices by 2018.

Enterprises are playing a pivotal role in realizing the potential of IoT. From connected cars to remote healthcare, enterprises are pioneering new uses of IoT to achieve higher operational efficiency, ensure customer success management, boost business intelligence, add new services, and develop new business models.

As IoT continues to explode, the need for device management and deployment is becoming critical. Enterprises managing tens of millions of devices need a solution that offers complete visibility and control of their IoT networks. Most of today’s IoT systems are unable to, or do not, support enterprise level or massive device deployment. Many times, the company does not know this is an issue until it comes time to deploy an IoT solution in the field, and is then stuck with a learning curve and massive delay in deployment resulting in a loss in revenues.

Often, the issues come down to software, while cloud solutions companies such as Microsoft, with Azure, or Amazon, with Amazon Web Services (AWS), have a good handle on how to support the software to scale and ensure that the software does not take full advantage of the cloud providers. This creates a significant issue that, as discussed earlier, is not often seen until the day of a massive deployment.

Echolo helps create solutions to monitor invaluable IoT capital assets and use the data it collects to improve efficiency, drive better performance, and enable innovation. Based on Microsoft Azure Internet of Things services, the solutions collect, integrate, and organize sensor data from remote equipment across global supply chains to support real-time insight and provide predictive analytics and preventive maintenance.
Echolo focuses on delivering practical solutions that reduce cost and have a real ROI. By using the latest in technologies, Echolo can build custom IoT solutions surrounding your use cases and business objectives. You will not be forcing you to buy a “prebuilt,” non-configurable solution that causes changes in workflow or costly, new training for your employees. The solutions integrate with your existing services or build new ones if needed.

We focus on delivering practical solutions that reduce cost and have a real ROI value.

The real value in IoT comes down to how you process and mine the millions of data points that come in monthly, weekly or even daily. Finding patterns in that data and being able to identify and bring that to someone’s attention is vital.

 

Learn More about the Internet of Things

When trying to understand the Internet of things it starts to get confusing when you attempt to “swallow” the whole pill at once. IoT is a BIG pill and can get larger the longer you think about it or even search online for answers. The Internet of Things should not be this complicated and in my latest book “Untangle the IoT Mystery” I cover the very basics of what makes up the Internet of things from a full blow product to the smaller parts of the project or product like hardware and software. When looking at this, I also dig into IoT security and how to avoid getting yourself into trouble. Security with IoT is relatively simple as long as you follow the easy to use rules I lay out. After many years in both the M2M industry along with IoT, my new Book provides you with a proven IoT Strategy Framework and the all-important IoT Checklist to keep you running smooth.

This book is for someone that wants to understand how the Internet of Things works from basic understanding all the way to advanced use cases. In this book, I have also given you my IoT Strategy checklist that outlines how to start and ensure your project will not go in the fail column. I encourage you to use this book as a guide and reference when developing or getting involved in an Internet of Things Project.

Greg Winn

Greg is veteran of the Iraq war and a unique expert in software engineering, hardware engineering and big data which provides a substantial advantage for Echolo's IoT products and roadmap. Greg spent more than 10 years at the National Association of Rocketry, building guidance and avoidance systems for high powered rockets. After a few years in the online gaming industry, Greg built his first company Tacticalzone.com a community site for the NovaLogic video game, Delta Force. TacticalZone was acquired in 2002 by Playnet Inc. In the years following TacticalZone Greg launched many web platforms and SaaS-based products including Cignal, a big data twitter sentiment analysis and predictive tool. Greg has contracted for top companies and organizations such as NASA, Ackerman & McQueen, Match.com, and the NRA. He has become a leading authority on how to create world-class software with a startup development team then scale into a full product organization.

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