IOT TECHNOLOGY

    IoT could “turn the world into data” that could be used to make macro decisions on resource utilization.

    “Information is a great way to reduce waste and increase efficiency, and that’s really what the Internet of Things provides.”

    TECHNOLOGIES THAT ENABLE IOT:

     Cheap sensors (50% cheaper) Cheap bandwidth (40x cheaper) Cheap processing & smarter Ubiquitous wireless coverage (free wifi) Big data (unstructured data) IPv6 Smartphones (personal gateway) For the Past 10 Years.

    Billion devices will be connected to the internet -- and 5.5 million new 'things' will join them each day. 63 devices connected every second HOW BIG IS THE IOT MARKET?

    IoT BENEFITS:

    Improve Efficiency Reduce Costs Create Innovative Products New Revenue Streams Consumers Government Businesses 5B Devices Installed By 2020.

    ENVIRONMENTS Manufacturing 35% of manufacturers already use smart sensors. 

    10% plan to implement them within a year, and 8% plan to implement them within 3 years, according to PwC Transportation Connected cars are a top IoT device. 

    We estimate there will be over 220M connected cars on the road by 2020. 

    Oil, gas, and mining In five years, it is predicted that 5.4 million IoT devices will be used on oil extraction sites. 

    BI Intelligence said that these devices will primarily be internet- connected sensors used to provide environmental metrics about extraction sites. 

    Insurance A survey has found that 74% of insurance executives believe the IoT will disrupt insurance within the next five years. 74% also plan to invest in developing and implementing IoT strategies by 2016, according to an SMA Research survey.

    ENVIRONMENTS:

    Infrastructure We estimate municipalities worldwide will increase their spending on IoT systems at a 30% CAGR, from $36B in 2014 to $133B in 2019. 

This investment will generate $421B in economic value for cities worldwide in 2019. 

Retail Beacons, paired with mobile apps, are being used in stores to monitor customer behavior and push advertisements to customers. In the US, we estimate $44.4B will be generated from beacon triggered messages. 

Utilities Energy companies throughout the world are trying to meet the rising demand in energy. 

To do this, they will be installing nearly 1 B smart meters by 2020. Hospitality 31% of hotels use next-generation door locks, 33% have room control devices, 16% have connected TVs, and 15% use beacons throughout the hotel, according to Hospitality Technology’s 2015 Lodging Technology survey.

     ENVIRONMENTS Logistics Tracking sensors placed on parcels and shipping containers will help reduce costs associated to lost or damaged goods. In addition, robots such as Amazon Kiva robot, help reduce labor costs in warehouses. 

Banks There are nearly 3M ATMs installed globally in 2015, according the World Bank. 

Some teller-assist ATMs provide live-stream video of a teller for added customer support. 

Healthcare We estimate 646M IoT devices will be used for healthcare by 2020. Connected healthcare devices can collect data, automate processes, and more. 

But these devices can also be hacked, thereby posing a threat to the patients who rely on them. 

Smart Buildings 43% of building managers in the US believe the IoT will affect how they run their building within the next 2 to 3 years, according to a survey from Daintree Networks.

COMPLEXITY OF SMART CITIES :

Date/Time • Location • Communication pattern • Services Accessed • Location and time of use • Number of passengers • Journey time • Potential delays • Location • Cell Tower Information • Services Accessed • Length of time and extent of use • Usage patterns of subscribers • Temperature • Environmental data • Usage patterns • Demographics • Routes • Geo-spatial Information • Number of mobile subscribers on bus in neighborhoods • Usage patterns of public transport in different neighborhoods • Load on mobile network in certain neighborhoods during different events, eg. crime reporting or concerts • Demographics of Mobile Internet usage • Mapping of cities digital divide Improved decision making • Feedback to improve public transport services • Reducing cost of delivery of government services • Improving crime response time Product for sale • Feedback to improve public transport services • Reducing cost of delivery of government services • Improving crime response time Knowledge Products Information Component Raw Data Real-time data input and output.