The world is getting more connected each day, there are already more devices talking to each other than people on the planet and this trend will just keep on increasing.
“The industrial Internet of Things solutions will eventually eclipse consumer markets, in terms of both the number of connected devices and the volume and value of connections. But the market’s potential is so large because it’s not just one market.”
We couldn’t agree more. The Industrial Internet of Things solutions is a mega trend, and its economic value add will show that in time. It is not a single market, but rather a market of markets.
Different solutions may require different hardware approaches, networking technologies, cloud data storage, reporting and security requirements. We’ve had to learn the different languages of proprietary machines–becoming ‘machine linguists’ in the process.
To approach this vast “megatrend” landscape requires a versatile toolkit of wireless and embedded technologies and software and integration services, because each customer use case and scenario has its own optimized solution.
In the industrial world, you build an Industrial Internet of Things solutions, you don’t buy one. You might be able to go and buy a wearable at Best Buy or Target, but here in the Industrial Internet of Things solutions there’s no one-size fits all standard today. Furthermore, a lot of new entrants in the supplier space offer one point solution or one point product. They have a single hammer, so everyone’s problem is declared a nail. That’s why their ability to deliver value to customers is limited.
Industrial Internet of Things solutions today are about creating a strategic competitive advantage for your business. If it were easy to do–if you could just buy one off the shelf and implement it–would it be a real advantage? For how long? As early adopters of Internet of Things realize the business benefits of lower costs or the ability to deliver superior customer service, laggards will find themselves at a competitive disadvantage.
As I said before, every industry and solution requires a different combination of technologies and approaches to get the job done. A solution for a city looking to reduce their electricity bill using a smart street lighting system is completely different than a medical device maker who needs to bluetooth-enable products. The same goes for someone deploying precision agriculture equipment, or industrial fuel tanks.
For example, wireless mesh networking technology often powers smart street lighting Industrial Internet of Things solutions, which can reduce electricity costs that can account for a big chunk of a city’s energy expenses. One of our customers’ systems, which gives city crews a view into every light and its status via a web application, helps cities save up to 85 percent on energy costs. And, with reduced CO2 emissions, it also helps to protect the environment.
The Bottom Line: There’s No Panacea or Single Standard today
Our Internet of Things customer solutions span dozens of industries and hundreds of applications– each with different business goals and technology needs. So, yes, we have to agree with Foster. There’s no one Industrial Internet of Things solutions. We wouldn’t hold our breathe either. Industrial Internet of Things solutions for commercial use are created with industry and application specifications in mind, as they should be. As Foster said, “the market’s potential is so large because it’s not just one market.”
If you would like to know more about how Techbase can assist your firm with Industrial Internet of Things solutions or any of our other services. Please do not hesitate to contact one of our consultants today!
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