As consumers are increasingly using devices that provide convenience and a seamless experience, the Internet of Things (IoT) trend is set to take off quickly in future. Putting privacy and security issues aside, who wouldn't want an IoT life, in which devices can be used to automate tasks and be controlled by users regardless of their location? For instance, a smart/connected refrigerator might save you a trip to the grocers since it can monitor the list of stuff stored within, send you a checklist of items that needs to be topped up, and get the grocer to send it to your doorstep.
But how are manufacturers in Asia changing themselves to meet the expected increasing demand for connected devices? We spoke to Ku Chung-Chiang, General Manager, MediaTek Singapore, to find out more.
Q: According to IDC, more than 200 billion things will be connected to the Internet by 2020. How could manufacturers in Asia capture this value of IoT?
Ku Chung-Chiang: The diversity of devices that are looking to deliver powerful performances with greater efficiency will require an edge to distinguish themselves. To be a part of this future, we need to adopt an inclusive approach and innovate across every segment of the market and deliver the latest technology into the hands of the consumers.
The speed of mobile adoption and technology will only advance faster than ever. With this in mind, MediaTek Labs promotes an open developer community to share Software Development Kits (SDKs) and Hardware Development Kits (HDKs) for developers to create and innovate new uses for the wave of devices in IoT. This reduces barriers to entry for manufacturers, increases revenue opportunities for service providers while creating more choices for consumers to promote the entire ecosystem for IoT.
How will IoT affect an Asian manufacturer's business strategy/model?
The global explosion of connected devices fuelled by the proliferation of technology means that we are at the forefront of the world's all-inclusive revolution. The middle class market is expanding and this means that premium technology will need to be available at an affordable price. The rise of billions of middle class citizens will become the force of the reductions by vendors and operators to reduce prices for devices.
We foresee the need for a range of cutting edge technology to suit the diverse needs of the middle class market, which will become the super mid-market and marginalise the concepts of high and low end models. All the products will then become fully featured solutions that provide leading performance for a competitive price worldwide.
The benefits of IoT can only be enjoyed when multiple products are connected. Should manufacturers take on a closed system approach - in which customers have to purchase the entire connected product system from a single manufacturer - or an open system - which enables end customers to assemble the parts of the connected solutions from different companies - to enable this connectivity?
Smart connected devices are diverse - their form factors differ from device to device, each with personalised functions and limitless applications. As consumers become more informed about their needs, they will want to handpick the solutions that best suit their needs.
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