Internet of Things: Smartphones to smart homes, IoT has become increasingly visible
Smartphones, smartwatches, smart cars and smart homes are on the rise, making the world around us unambiguous smart
Telecommunication is most commonly associated
with inventions such as the telephone, fax machine, emails, and radio;
essentially the ways in which we communicate on a daily basis. The global
telecom industry is one of the fastest developing that the world had seen
before, and there can be little doubt that technology has played a huge role in
its ever-changing face. With each invention, or a new idea, comes another wave
in which the global population can communicate ideas, images, or conversation
and it shows no signs of slowing, either. Then came along the Internet and
various ways it changed the telecom landscape, especially with the current
Internet of Things (IoT) revolution.
The IoT has become increasingly visible and
is growing at a phenomenal speed these days. The sensor technologies that make
things “smart” are only part of the IoT. However connecting all these devices
is what turns isolated pockets of technology into a network that generates and
pools data in ways that lead to valuable insights. In this era of internet
revolution, communication services treated their network providers as little
more than “dumb network,” just providing bandwidth. The IoT revolution with its
dramatic increase in strong, secure communication links offers the providers an
opportunity to not only play a larger role but to create new value.
Internet of Things comes with a concept that
everything around should be electronically integrated and interconnected which
is all about gathering and sharing of data. Things like smartphones,
smartwatches, smart cars and smart homes are all on the rise, making the world
around us unambiguous “smart”. The rise of smart and connected things from
wearable activity trackers to connected cars to the electrical grid allows
companies to compete not only on the functionality and performance aspect of
their products and services but also on the information created by the use of
these products or services.
The Indian government plans to develop 100
smart cities in the country.
It has earmarked R7,060 crore in the current
budget where IoT would play a key role in developing such cities. This could
lead to a quick expansion of IoT in the country. Also, the launch of the Digital India programme by the
government, aims at ‘transforming India into a digital empowered society and
knowledge economy which will provide the required impetus for development of
the IoT industry in the country.
The various initiatives proposed to be taken
under the Smart City concept and the Digital India programme to set up digital
infrastructure in the country would provide a boost the IoT ecosystem. IoT
offers avenues for telecom operators and system integrators to significantly
boost their revenues, which has resulted in fast adoption of IoT applications
and services.
The IoT will continue to have a massive
influence on consumer and enterprise business models and on human behaviour patterns,
supporting a move from owning to renting assets on the consumer side, and for
businesses to move from selling products to offering services. The M2M market
is estimated to generate $7.1 billion in 2015. As per GSMA (GSM Association),
the business impact of connected life is expected to be $4.5 trillion by 2020
for the global economy. The widening scope of M2M is seen in sectors like
healthcare, education, auto, agriculture, security, surveillance, etc. The
Smart Cities project is further expected to boost the IoT and the Internet and
communication technologies market in India.
The
mid-nineties gave the industry “The Internet” which gave the next big jump to
the industry. Now Internet of Things is the next major trend that will impact
the industry with connected devices playing a major role. It will add billions
of new connected data sources globally by 2020. India is at the apex of a
digital revolution where it requires a regulatory impetus to realise this
vision. Although India aspires to become a digital economy ensuring
connectivity across the length and breadth of the country, the blues of the
telecom industry are hindering its true potential. In this time frame, creation
of an investor friendly environment is one of the principal requirements for
innovation and progress in the telecom sector.
Source | Financial Express | 6 March 2017
Regards
Pralhad
Jadhav
Senior
Manager @ Library
Khaitan & Co
No comments:
Post a Comment