There is no debate about it : people are connecting to the Internet to access information, communicate with other people, and do business. Internet is everywhere and the reason multiple companies, including ours, exists. But it’s not just people that are using the Internet: objects use it too. Machine-to-machine communication is widely used in the manufacturing and energy sectors to track machinery operations, report faults and raise service alerts. More and more everyday objects are also using the Internet to connect to the cloud forming an ‘Internet of Things’, or IoT.
“Things,” in the IoT sense, can refer to a very large variety of devices. It goes from heart monitoring implants to automobiles with built-in sensors or even field operation devices that assist firefighters in search and rescue operations. But for the moment, we are mainly familiar with activity and fitness monitors or smart glasses. The fact that Apple is considering to go on the smart glasses market confirms the fact that the IoT trend is expanding quickly. It’s forecasted that, by 2020, it could include between 30 billion and 75 billion things.
The potential uses are almost unlimited, but here’s an example: by taking advantage of the Internet of Things, your products can carry out maintenance reporting and diagnostics on themselves. It means that instead of being surprised by a device that has just stopped working, smart products can identify faults, communicate them to technical support and initiate actions to resolve them – from ordering replacement parts to requesting a completely new device, without lifting a finger! And most importantly, it can be done before your customer is even aware of the issue. Like the Internet revolution, the IoT revolution will create numerous opportunities for companies willing to exploit it. Networking giant Cisco predicts that the opportunity represented by the Internet of Things will be worth $14.4 trillion for companies and industries worldwide in the next 10years.
A special international exhibition dedicated to IoT will be held in Singapore in March 2017 : The IoT Asia. Even if we are 132 days before the event, it is confirmed that at least there will be 110 sponsors and exhibitors, and more that 4500 attendees. All this confirms that the IoT revolution is nearly there. And which better place than Singapore, one of the most connected cities in the world, to hold an event on IoT?