Singapore, February 4 2015: By 2017, the Internet of Things market will be one of the fastest growing segments in the APAC tech industry. The total APAC spending on IoT spending is forecasted to be US $59 billion by 2020. Andrew Milroy, Senior Vice President, ICT Practice, Asia Pacific at Frost & Sullivan and suggests why 2015 will be be the year to watch as more enterprises learn how to best leverage on the immense potential that IoT offers. He shares his top technology predictions that will transform the digital landscape this year. Milroy will speak on this theme at the CommunicAsia expo in Singapore, June 2-5 2015
At the crux of it all, the Internet of Things (IoT) is increasingly seeing an orchestra of IT enabled devices speaking to each other. In the past five years, IT enabled devices have become cheaper and more accessible across the region. Let’s face it, IT enabled devices has gone beyond your typical computers and smartphones into enterprise assets. IT enabled devices are everywhere, and because of the increased access to IT enabled devices and more reliable networks at lower costs, the opportunity that businesses can gain and leverage from IoT is immense. Take transportation for example, there are increasingly more mobile applications available in Singapore that provides predictive bus schedules, reducing our waiting time. These technologies are testament to our Smart Nation vision, helping us make more informed decisions in our daily lives and increasing efficiencies. On the other hand, IoT is predicted to have a hugely disruptive impact on manufacturing as it allows for increased automation in factories. We are looking at a potential shift of the manufacturing industries from labor-intensive markets such as China and Vietnam back to North America, Western Europe and Japan
Proliferation of wearables
More consumers are turning to wearable devices with the likes of fitness gadgets and intelligent watches. But what we are more interested in is how businesses can benefit from these wearable technologies, and we are seeing a huge potential in the shipping industry. Logistic companies are set to gain from wearables through the use of IT enabled helmets or goggles that display shipping orders, immensely reducing paperwork. Apart from that, the healthcare industry could leverage on wristbands to monitor patients’ health and display their medical records as opposed to the plastic wrist tags that they currently use.
Software Defined Everything
Another key trend to watch for is Software-Defined Everything (SDx). In the next decade, almost every industry will be re-defined by software. The different components of the IT infrastructure will be virtualized and delivered as a service via cloud technologies. These networks allow for new business applications and services which in turn improve overall enterprise efficiencies. More importantly, it allows enterprises to fully utilize their servers through better hardware management. Take the aviation industry as an example; the festive season sees increased website utilization and bookings. SDx technologies distribute the traffic amongst via the cloud, allowing consumers to experience faster and more reliable service than before.
The market place is undergoing massive transformation as we speak. As structured and unstructured data in organisations continue to grow, security continues to be a concern. Watertight data security is combination of thoughtful strategizing and IT execution done right. It is important that businesses understand how they can leverage such technologies to improve organisational processes and efficiencies and remain agile in the choices they make today.
The Internet of Things (IoT) is the interconnection of uniquely identifiable embedded computing devices within the existing Internet infrastructure. Typically, IoT is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications. The interconnection of these embedded devices (including smart objects), is expected to usher in automation in nearly all fields, while also enabling advanced applications like a Smart Grid. (Wikipedia)