In today’s digital economy, the ability to create value depends a lot on relationships built within the IoT eco-system and Larry Socher at Eseye describes the opportunities here for partners.
The Internet of Things, IoT is becoming increasingly ubiquitous. Yet, with more devices connected, the opportunities for businesses to innovate and improve their operations are endless. Larry Socher, SVP of Strategy and Alliances at Eseye, discusses how businesses can best position themselves to use reliable and secure connectivity solutions for their IoT estates.
In today’s networked economy, the ability to create value depends primarily on the relationships built with other firms. As a result, strategic and product-related decision-making becomes increasingly complex. This is because a business is viewed as a component of a broader economic ecosystem and environment, where it influences and is influenced by other partners, suppliers, and organisations.
Within a business ecosystem, firms collaboratively and competitively develop innovations and capabilities where they have the capacity and freedom to do so. This enables them to support new products, meet customer needs, and incorporate subsequent waves of further innovation.
Platform-based technology frequently supports these ecosystems, serving as foundations for products and services. Suppose businesses want the ability to facilitate transactions between distinct groups of users in a two or multi-sided market. To do this, they need connectivity infrastructure that is robust and dependable enough to support it alongside partners that can enable it.
Modem manufacturers
Today, modem manufacturers play a critical role in the development and deployment of IoT ecosystems, helping to ensure that devices can communicate with each other effectively while enabling the creation of new applications and services. While IoT devices rely heavily on wireless connectivity to communicate with each other, enforcing the role of modems is the critical component that enables communication.
Yet to create an IoT ecosystem fit to allow web-enabled smart devices to collect and send data from their environments, they must be able to communicate with each other seamlessly. This requires not only compatible hardware and software but also standardised communication protocols and data formats.
However, the potential for modem manufacturers goes far beyond just creating connectivity solutions. Manufacturers are often involved in designing and deploying IoT networks, collaborating closely with stakeholders such as network operators, device manufacturers, and software developers. They might be called upon to provide the tools and resources for developers to build applications that leverage IoT data, as well as offer support services for deploying and managing IoT devices in the field.
Embedded technology
With embedded IoT technology, businesses do not have to worry about the complexities of IoT connectivity, leaving them to create solutions that meet customer needs. This is particularly important in healthcare, transportation, and manufacturing industries, where reliable and secure connectivity is critical.
The benefits are many and varied, as outlined below:
Healthcare
IoT devices monitor patients remotely, allowing healthcare professionals to monitor their condition and respond quickly to any changes closely. However, to do this effectively, the devices used to monitor patients need to be able to connect to the Internet reliably and securely without the risk of network disruption and its consequences.
Transportation
The security of premises and vehicles is critical in the transportation industry. Firms can monitor vehicles and improve their overall performance to help reduce maintenance costs and improve safety. Yet, it is vital that IoT ecosystems are connected without risk of failure, even when vehicles are in remote locations.
Manufacturing
In manufacturing, IoT technology can improve efficiency and reduce downtime, allowing businesses to increase productivity and profitability. However, connectivity reliability is critical, especially in environments with a lot of interference.
Collaboration
Of course, the potential for modem manufacturers to embed their technology into devices is not without its challenges. The IoT is a complex ecosystem, with many factors that must be considered when creating custom solutions.
With more devices connected to the internet, the potential for cyber-attacks increases. Robust solutions must be created to protect against these attacks, particularly in industries such as healthcare, where the potential consequences of a cyber-attack can be catastrophic. Yet despite these challenges, the potential for IoT ecosystems to be developed and embedded further in the technology of modem devices is enormous.
Therefore, collaboration is vital in empowering the partner ecosystem, where multiple partner providers create a comprehensive solution adding value to end customers. For example:
IoT solution providers
Provide end-to-end IoT solutions, including hardware, software, and connectivity. Embedding Security Controls, in their devices provides an added layer of security to the end customers, ensuring the protection of their data and devices.
Component vendors
Provide hardware components such as chips, sensors, and modules used in IoT devices. By offering a global Stock Keeping Unit, SKU, they can ensure their products are readily available across different geographies, making it easier for IoT solution providers to source and use their components. Moreover, this provides an insurance policy and an added level of protection for customers in case of any defects or damage to the components.
Platform vendors
Provide software and platform solutions that integrate with IoT devices, providing additional functionalities such as data analytics and security. Hyperscalers like Amazon Web Services, AWS and Microsoft Azure offer a global reach that can host IoT platforms and services. Security software vendors provide solutions that integrate with IoT devices, ensuring end-to-end security.
Network service providers
Provide connectivity solutions that enable IoT devices to communicate with each other and the cloud. They provide seamless connectivity across different geographies by leveraging their global reach through federations like the Eseye AnyNet Federation. Additionally, this enables them to provide access to federation partner devices and applications, allowing IoT solution providers to expand their offerings and cater to a broader market.
Global system integrators
These partners provide end-to-end integration services and connectivity expertise that can be used to connect different devices and systems, ensuring that they work seamlessly together. They also provide global connectivity, allowing IoT solution providers to offer them globally.
In conclusion, empowering the IoT ecosystem is essential for unlocking the full potential of connected devices and services. By leveraging the power of data analytics, cloud computing, and artificial intelligence, organisations can gain deeper insights into customer needs and preferences while improving operational efficiency and reducing costs.
Furthermore, by collaborating closely with ecosystem partners, businesses can create innovative new solutions that drive business value and enhance the quality of life for users. By taking a strategic and collaborative approach to IoT, firms can build a more connected, sustainable, and prosperous future for all.
