Internet of Everything has created a paradigm shift in the way firms have started implementing technology into their business strategies. According to Analysys Mason, Internet of Everything will connect 2.1 billion devices by 2021 from connected homes to connected people, and will essentially evolve to become the crux of all successful businesses.
Internet of Everything or M2M (machine-to-machine) communication connects cars, mobiles, wending machines, cameras, TVs or infact any fixed or mobile assets. These assets collect data, monitor and analyze data from devices and relay that information in real-time to a central management system thus opening new opportunities for business efficiency and agility. With myriad applications at its disposal, M2M can be used in all kinds of business objectives limited only by the ambition and imagination of the project leader.
M2M is a brand new tool to revitalize businesses
Programmed to be one of the disruptive technologies in the years to come, Internet of Everything is now closer to adoption by firms due to fall in costs of M2M implementation with rise in projects. This new world of connected devices has already created a tremendous shift in the way systems operate today. It creates a plethora of opportunities in every industry and transforms customer needs. It is no longer considered just an innovative technology, but a brand new tool to revitalize businesses and achieve targets that were previously challenging.
What all you achieve from M2M
M2M offers competitive advantage along with cost effectiveness In the competitive environment, Communications Service Providers (CSPs) are pressurized to cut down costs and protect existing revenue, while securing future revenue through innovations and new revenue streams. With growing awareness and need for M2M solutions in various industrial verticals, M2M technology offers CSPs a window of opportunity to become key players in the M2M market. Companies engaging with M2M have started considering using this technology to reduce operating costs, increase revenue, improve customer relationship, enable greener technologies and help gain competitive advantage over others and help in proactive decision making. The primary factor that encourages M2M adoption is the competitive advantage that M2M offers and not just the cost effectiveness. With constant competition from products in emerging countries, firms have realized that differentiation of end product alone cannot enable a products’ success. Internet of Everything offers perks to consumer electronics
Consumer electronics is one particular industry that will enjoy the maximum perks of adopting Internet of Things. The manufacturers will implement value-added services like M2M enabled warranty and asset tracking, security and predictive maintenance services that will make them stand out among competition. The consumer electronics and the manufacture sector will benefit the most from Internet of Everything and will lead the change in adoption.
How M2M helps bank customers
Gone are the days when banks simply served as a repository for cash. Technology advancement has enabled banks to enhance customer experience and simplify banking. What started with something as simple as internet banking, has now evolved into a much larger scale. Banks can now analyze the customers’ needs by means of tracking their activities online or in ATM’s and serve customers even better.
M2M apart from making banking easier for customers has also been helping banks serve better. The rapid growth in ATMs have made our life easy but it is not so for operators who manages it. ATMs are not owned by banks rather they are outsourced to managed service providers (MSPs) from purchasing to maintaining the machines. Many factors like the maintenance, cash replenishment, security and the passive assets In the ATM rooms are responsible for keeping the ATM active. Centralization is the key feature as it enables to monitor the entire network from a single console. For instance, an operator seated in Chennai can switch off an A/C in a particular ATM room in Srinagar.
Similarly ATM Site Monitoring solutions captures real time information based on customer usage pattern at ATM based on the door openings, time duration of each air conditioner on/off for 24 hour period, number of main power outage (lower voltage/ over voltage condition) with its duration and total battery usage per day. The solution sends alarms and periodic log via Ethernet, GPRS and SMS to remote servers, thus reducing the time spent in restoration in an otherwise manual process.
How M2M makes telcos’ job easier
The boom in mobile usage has seen an enormous surge in the number of cell phone users and operators. All this has catalyzed the rise in cell towers which have the bandwidth to support these huge numbers of connections across locations. Apart from setting the tower to manage the network, telecom companies also have the daunting task of managing the towers, which at times are located in remote places. These towers call for a human support who can be on ground and monitor the parameters in the cell tower to monitor key parameters. With the advent of M2M however, things have changed. Cell Tower Managers equipped with remote terminal units capture and display operating metrics of air conditioners, generator, input power and surveillance in an easy to use client interface. The CTM ensures you get the most out of your passive infrastructure with continuous network up time with reduced maintenance cost.
How M2M accelerates logistics
In the field of logistics, M2M plays a vital role in improving fleet safety, delivering better service, fuel efficiency, vehicle maintenance and insurance. M2M-enabled supply chain accelerates supply chain with deeper insight and control to track and monitor location and status of consignments enabling courier companies to manage and plan their businesses more efficiently. Connected automotive sector can also leverage the most out of Internet of Things. Sensors will connect with drivers and send information on car service schedules, refueling alerts and other key parameters that need monitoring.