AF: In order for M2M to deliver on its true potential, a number of stakeholders - including end users in the industry verticals, service providers and regulators - need to address a few action points. Enterprises would need to experiment with pilots and pay close attention customer feedback to understand what customers will accept. Customer concerns about privacy and security will determine the viability of many M2M applications.
Telecoms operators need to continually develop their own business models and customer offerings. It is inherently a complex ecosystem, but it will need to be simplified for widespread take-up. To win over new business and convince skeptics, the provider community needs to agree on technology standards, develop open protocols and establish network technology that will last over long deployment periods.
All this has to be topped with governments taking positive action and address growing spectrum congestion, help simplify technology standards and consider streamlining regulations in some sectors to foster innovation.
What are some of the points that companies/ organizations who plan to leverage IoT should keep in mind?
Smart companies are building new business models leveraging trends such as M2M which is simply the direct communication between objects and systems without the need for human intervention. Today the M2M market is an adjacent and incremental opportunity to the traditional mobile market because it has a broad reach and can have an impact on solutions across all industries.
In order to gain competitive advantage with big data and mobility by taking advantage of the opportunities offered by Mobile to Mobile (M2M) communication, the key to the strategy lies in partnering with the right "software platform" and "network management" partners to bring together the three key factors of M2M: network provision, platform, and network management.
What are the industry verticals that you think would benefit the most from this new concept?
AF: As an emerging technology,M2M communication is a fast growing revenue segment of the telecommunication industry. According to Forrester Research, M2M service revenue is expected to reach US$17 billion globally by 2016.
Industries like oil and gas, transportation and logistics management rely on it to keep us safe. Medical device manufactures use it to keep us healthy. In the Mill Products & Mining Industry, M2M is used to collect data from the process control systems of fixed manufacturing assets via enterprise interfaces. M2M, using cellular technology or Wi-Fi mesh networks, opens up a new avenue for the remote data collection from mobile or regional distributed assets.
Another example is automotive industry and connected cars. Equipped with internet access that can share data between devices inside and outside the vehicle, these cars can bring additional benefits to the driver. In some smart cities, these cars are also connected to public transportation grids making inner city traffic more manageable.
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