Understanding and Developing IOT Opportunities

There is a lot of Buzz in the market regarding IOT and m2m, but what are they really ??
IOT will basically connect everything to everything in the world. Every machine will be connected and controlled by other machines and humans. Internet will not only be limited to laptops and mobiles, it will be everywhere, in your car, TV, even your shoes.. IOT or Internet of Things, no doubt, is a very big sheep emerging in the market.. m2m (machine to machine) communication is just a part of IOT, but there is lot to explore in that..

There is a lot of potential in the market if things are captured properly. But making a random Hit in market will end up people in losing because as market is growing, day by day new competitor faces, new ideas are also emerging.

I have analysed IOT, by keeping one eye on technical side and one on market side. I found out that there will be some common components which will alwyas be required in IOT market. For example, a device communicating with server using internet will always be a common component. How device will perform and what it will do, that will depends on particular application.

Other then that, there are lot of related things which will grow huge in individual required for single IOT product, like Security for IOT devices, Data Analysis, mobile apps, websites, cloud services, etc… In future, All these dependants will grow so huge, that a dedicated separate sector will grow for IOT devices.

And, this trend is not new, whenever a Big business comes in market, a lot of interrelated stuff also comes in market. Or say, market creates the requirements and then these dependant things comes up. No doubt, competition is emerging, but I believe, that a market player may stand apart just with some proper long term planing. I talked about player, it does not mean a Big company. It could be a small individual or a start-up or may be you.. I used word “long”, because IOT involves hardware and software components, so a quick return on investment is difficult. But long term, definitely yes.

Now, if we talk about a product development for IOT market, it’s really not very difficult. We should just clear with the requirements and few steps to follow, and product will be ready. In my next blog, I will come up steps to develop m2m and IOT product. Keep watching and thanks a lot for reading my blog till end !!!!!!!!!

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