Internet of Things The modern day gold rush

The installed base of "things," excluding PCs, tablets and smartphones to grow to 26 billion units.

PC, Smartphone, tablet IoT

Source: Gartner (November 2013)

Billions of Things in Use

Billions of Things in Use in 2020

2009 2020

The IoT Gold Rush

Incremental revenue opportunity from IoT products and services to reach$309 billion

More than 80% of the IoT supplier revenue to be derived from services.

IoT Services Opportunity Drivers

Services model reduces the barriers to adoption for the user community.

Need for business model innovation in Smart City development.

Rising demand for industrial and home automation.

IoT to be one of the fastest growing markets

Connected smart devices will drive the growth of IoT.

Services Scenarios and Use CasesThe disruptive innovation that IoT-driven smart homes and smart cities have enabled isn’t really about the “things”. It’s about the new services they enable.

Gujarat International Finance Tec (GIFT) City

Command and control center to monitor the IT infrastructure.

Remote management of all utilities.

Energy-efficient district cooling system.

Automated waste collection.

Instant emergency response.

Remote management of ATMs.

Vehicle monitoring & diagnostics.

Fitness tracking and coaching. IoT driven

smart cities

Smart Services for a Smarter Life

Hive

Priced at £149, this British Gas app allows homeowners to control the central heating via their smartphone.

AT&T Digital Life:

A mobile app that integrates home security and automation.

Nest

An automated thermostat that helps households save over 20% on their energy bills.

Home Automation

Smart Cities

City of Griffin’s smart grid electric meters enable residents to control electricity consumption.

Amsterdam in partnership with Cisco offers high-speed broadband access across the city.

Bucheon City in Korea has implemented a real-time traffic monitoring system.

For businesses, the benefits of adopting a Services Oriented Business Model

Transforms customer service from a cost center into a revenue center.

Becomes a focal point for new offerings, reducing churn, providing better customer service, and proactively fixing problems.

Generates recurring revenues through service bundling.

Creates long-term relationships with customers long after they have purchased a product.

Helps overcome profit margin pressures because of technology commoditization.