Better networks, optimized controllers and low energy sensors are fuelling exponential growth opportunities in the Internet of Things and Machine to Machine market. Enterprises, software vendors, platform vendors, OEM’s and chipset vendors need to urgently work towards making their products IoT ready and create new solutions around it.
According to analysts, there will be nearly 26 billion IoT devices by 2020. These devices could range from heart monitoring implants, smart thermostats that manage ambient temperature, automobile fleet with built-in sensors, to field operation devices that assist fire-fighters in search and rescue. To enhance customer satisfaction, IoT ecosystem should channelize their energies on:
New technologies and greater collaboration: By leveraging new technologies like mobility, cloud, smart low power sensors, analytics and connectivity; and collaboration among operators, enterprises, ISVs and platform vendors, OEMs can build IoT ready products that open up new business opportunities and revenue streams.
Driving faster time-to-market: Better networks, optimized controllers and low energy sensors are fuelling exponential growth opportunities for IoT and Machine to Machine (M2M) market. Companies are beginning to take advantage of this transformation by creating unique business opportunities and revenue streams. But simply adding connectivity to a device or product isn’t enough—the technology must address real needs and provide customers with a worthwhile experience. OEMs and enterprises need to get this right urgently to maintain their lead and grow market share.
Striving for higher ROI: Cost pressures triggered by market dynamics are overbearing in today’s scenario. By subscribing to new technologies, fostering greater collaboration with ecosystem stakeholders and finding an expert partner with the right set of frameworks and tools to accelerate product development, OEMs and enterprises can optimize development costs for moving to the connected era.
IoT/M2M is a futuristic practice of L&T Technology Services that is partnering with OEM and Industrial customers across Transportation, Industrial Products, Healthcare, Plant Engineering, Media & Entertainment and Telecom. L&T Technology Services delivers IoT applications across the lifecycle from developing IoT ready hardware to engineering the IoT Platform, integrating it to enterprise or cloud, and developing/commissioning business ready applications. Diverse product development experience, exposure to different industrial verticals and prior implementations experience in remote monitoring and control applications enable L&T Technology Services to deliver quicker and faster IoT and M2M solutions.