The Internet of Things (IoT) industry is well on its way to achieving the explosive growth anticipated for the market. By the end of 2016, 5.5 billion new things will be connected – 30% more connections than in 2015. This number will rise in the next several years, reaching a projected 20.8 billion things by 2020.
With so many machine-to-machine (M2M) connections coming into play, of which will span a wide range of devices and industries, there comes the risk that the utopian promises of a connected world may not be achieved. The wide range of devices, applied to a variety of products crossing a broad spectrum of industries can create interoperability issues. There may be problems with capturing meaningful insights from the limitless data pool. And, lest not forget, the potential risks associated with security and privacy.
If the potential of IoT is to be realized, the challenges of interoperability, security and privacy need to be addressed. A horizontal management platform offers a standards-based solution that can handle every aspect of M2M connections from data collection to data contextualization and analytics, as well as event processing, device management, end-to-end security and application enablement.
Secure, Insightful Data
Data – or rather the insights it provides – forms the foundation of our future connected world. This requires data be authenticated to ensure it comes from a trustworthy source. Once reliable data has been collected, organizations need help to generate analytics that will offer meaningful insights. Each of these is available through a horizontal management platform that offers end-to-end data authentication, privacy and security.
Scaling Innovations through Horizontal Management
Innovation cannot be confined to a narrow arena. This is never more true for IoT, where innovations are being developed by a myriad of sources that bring with them a variety in background and expertise. This has created a rather disjointed evolution that is only exacerbated by the sheer pace and volume of the opportunities coming to market.
Aside for a call for common standards and thinking, especially as it relates to safety and security, organizations require a scalable IoT platform that will save them from having to build business-specific solutions for every application. A solution that is flexible to accommodate any device, any protocol and any application will simplify an increasingly complex ecosystem while enabling new innovations to be brought to market quicker.
Open New Revenue Streams
As organizations execute against their IoT strategies, they will look for opportunities to expand their capabilities in ways that will create more value for their business and their customers. With greater visibility into data and more reliable insights, organizations will be able to leverage their horizontal management platform to identify and build revenue-generating opportunities that can monetize IoT and optimize network efficiency.