Service Providers looking to augment their revenue streams and diversify their businesses in the face of intense price competition and increased challenges posed by the presence of Over-the-Top Applications as well as the requirement to continuously invest in expanding and optimizing the network, are turning to new areas such as digital services and M2M services. Converging the two and creating a wide array of business opportunities for service providers is the Internet of Things(IoT) which sees service providers now providing connections not only to personal devices such as smartphones and tablets, but also to a host of other appliances, machines, wearables and vehicles.
In conjunction with the upcoming GIL Exclusive session on Connected Living at GIL 2014 New Zealand, Mark Dougan, the Managing Director for Frost & Sullivan, Australia & New Zealand shared insights on the topic of 'Connected Living', outlining the major segments within the IoT in terms of the services that will be created, the connections made, the subscriptions as well as growth and revenues for these areas. Frost and Sullivan is a growth partnership company which provides market insights and develops strategies for a broad base of clients around the world.
Connected Living will see hundreds of companies from a host of verticals - namely service providers,manufacturers, software providers, IT and cloud services companies and system integrators working hand-in-hand to bring connectedness to homes, schools, offices, factories, public places, vehicles and probably every place there is. Companies such as Sendum, Gemalto, Apple, Samsung, Telefonica, AT & T, Cisco, SAP, Oracle, IBM and Accenture are some of the top names in the segment, according to Frost. The following infographics summarizes some of the highlights shared in a recent release by Frost, in preparation for the GIL Exclusive session, which will be held next month.
"Mobility and cloud computing have brought about significant changes in the ICT industry. Cloud computing, big data, mobility and low cost sensors are driving the internet of things and connected industries. The internet of things is forcing transformation and innovation across connectivity and convergence of people and industries, giving rise to the connected home, connected workplace and connected city. The consumerisation of the information and communication technologies (ICT) environment is forcing companies to converge and offer ICT-blended solutions. This is creating a whole new market of connected living solutions and services."
"While the ecosystem of players is complex, there is no denying that collectively, the market potential is huge and presents immense opportunities. Manufacturers will drive value from smart factories, retailers will derive value from digital retailing and advertising, utilities will derive value from smart grids. This is truly a market where being successful means often transformative improvement and legacy means almost nothing; the number of new market entrants is expected to be significant.
- Mark Dougan, Managing Director, Australia & New Zealand, Frost & Sullivan
