IOT or M2M (Machine –to-Machine) is the network of passive assets that contain embedded tools to sense, interact, and communicate with their internal system or the external environment.
Everything from around us from the simple objects (such as Watch, Glasses, Fabrics) to complex objects (such as Home Appliances, WindMill, PowerGrids, Gas Pipelines etc.) is on the verge of being connected. The blend of low-cost “smart” connected devices with the need for information drives M2M.
We have already reached to a state where the number of things connected to the Internet has surpassed the number of PCs and mobile devices that are connected to the web. The number of things that connect to the Internet will continue to skyrocket and it will surpass the number of human beings in the coming decade. Gartner predicts that there will be over 30 Billion connected devices by 2020.
Many of the recent business cases for M2M have been engrained in energy savings, remote monitoring & control, sustainability, predictive maintenance and renewable energy. M2M has seen most interest in the areas of smart Grid, Smart Home, Cell Tower Management, ATM Site Management, Building Management, Transport, and Retail.
Tremendous opportunities are possible this year, with growing interest of Telcos to become key players in the M2M space as the revenue streams from their core voice have begun to deteriorate. Also, the intervention of Indian Government in M2M ecosystem formation and other Government initiatives across the world like Emirates Energy Star Program and China Sustainable Energy Program are fuelling M2M deployments.
Business Intelligence
As the economic recovery is slower and more inconsistent, and change of pace is continuing to increase, enterprises are considering for ways to control costs and ramp up efficiency by resorting to M2M.
Amalgamation of M2M and Big Data will have a profound impact on the businesses in 2014. As massive amount of data pours from millions of connected devices in real-time high in velocity, magnitude, and complex data-types; “Big Data” processes the data for the businesses to stay competitive and agile.
Thus Big Data Platform enables to shape huge volume of unstructured data generated from sensors, RTU and lots more. Businesses can capitalize on data by forecasting trends and patterns to make informed decisions for exponential growth.
Logistics Leads In M2M
Logistics industries face numerous issues with rising fuel costs, maximizing capacity, global operations, and increasing demand from consumers on faster delivery & zero damage during transit. In the field of logistics, M2M plays a vital role in monitoring the asset in real-time, providing precise reports on the location, improving fleet safety, delivering better service, fuel efficiency, automobile maintenance and insurance. M2M applications enable companies to gain full control of their fleet, tighten operational costs and improve efficiency of the core business operations.
M2M-enabled supply chain ensures that highly perishable and temperature sensitive products reaches the target consumes in good status. Internets of Things revolutionizes car industry by exciting the consumers and giving rise to new services like usage-based /Pas-as-you drive insurance. Connected car is gaining momentum with smartphones as users can track the car location, lock/unlock the car from a distant location, and switch on AC. M2M powered cars improves safety, tracks driving behavior, prevents accidents, alerts for refueling & battery change, notifies driver on rash driving, and dials emergency number on crashes .
Smartphone Innovation To Complement M2M
According to Gartner, over 20% of objects will be able to interact with a smartphone by 2018. Growing demand for smartphones has created an ability to control a remote environment on the move.
Today’s smartphones are embedded with in-built sensors, which when paired with people/ devices /wireless sensors helps to power the device communications of machine-to-machine (M2M) technologies, which are becoming the foundation of the next generation of intelligence.
For instance: In healthcare, smart slippers and other wearable devices containing sensors can detect falls for elderly people and various medical conditions. If something is awry, the device will alert one’s doctor via message or a call. In insurance, installing sensors in cars will provide a pay as you drive insurance that links the insurance premium to the individual’s risk profile.
This continued rise in connectivity will not only improve our lives, it will also create substantial economic benefits. M2M has the potential to intensely benefit the individuals, enterprises, and society as a whole through improving quality-of-life, driving efficiency, increasing productivity & profit margin, enabling massive reduction in carbon emissions and tacking climate change.
