IoT extends internet connectivity beyond traditional devices such as smartphones and computers to other devices. Physical objects are now being embedded with sensors, software and network connectivity. 5 billion devices are currently connected to the IoT globally, this figure is to expected rise to over 30 billion by 2025. Interconnection of devices to a network enables the exchange of information which presents the unique opportunity to monetize “big” data being exchanged. “Megatrends” in wireless interconnectivity, intelligence and automation alone is expected to create a significant global economic impact of $6 - $8 Trillion by 2025.
The initial phase of IoT was to validate the technology – proving connectivity, remote sensing, data gathering, interactivity and control. We are past this phase. Developers, industries, governments are currently validating use cases and the value they can potentially deliver. The next phase will soon be upon us where IoT players will determine how to monetize these cases and maximize return on their investments.
Every business needs to have a solid IoT strategy and an action plan to remain viable in the marketplace.
We’ll leverage our in-depth ICT knowledge and experience to create comprehensive market studies, model business cases and provide guidance on technology implementation options to equip you with all the right information to make an informed decision.