IoT (Internet of Things) is a globally emerging trend in technology. The IoT ecosystem, as it grows and expands, will provide better connectivity among devices that would eventually go much ahead of just machine to machine communications to cover other domains and applications which will ultimately result in an automated communication between connected devices in every field of technology.
To serve this emerging market, UK headquartered Machina Research provides strategic advice on M2M (Machine-to-Machine), IoT and Big Data markets. Machina Research was founded in 2011 by Jim Morrish. Jim was in India recently after being invited by IET to deliver a lecture on the Internet of Things.
Jim believes that as the ecosystem of connected devices develop further, purchasing a commodity would not be the way to go about it, as businesses will be more about maintaining a constant relation with the customer. He also mentions that India would have a huge opportunity opening up in this segment as the technology expands. Jim feels that many innovative ideas in the IoT space that will be successfully implemented in India can be exported to the rest of the world but would take quite sometime to be implemented in India, given the constraints within which industry and governments need to work. India is an open market and there will be lot of transparency in terms of co-creation of technologies in the subnet-of-things space.
Jim, mentioning the technologies on which Indian government should focus on, said that the focus should be on smart cities, electric vehicles with battery fulfillment stations, technology assisted irrigation facilities, servitization of agriculture, cost per usage based availability of farming equipments, protecting the farmer against CAPEX, sensor based agriculture and crop sensing, personal location monitoring, intelligent and green buildings, telemedicine and smart metering for energy.
Also talking about the security and privacy concerns that connected devices would bring in, Jim says that privacy will be a major concern than security as securing the devices can be done by securing all elements of the device.
Privacy would be among prime concerns with data being communicated constantly by every connected device. Any info that can end up in the wrong hands or with someone who the user does not desire would be a breach of privacy to the user.
Jim believes that the way forward would be to have a third party certification for data sharing and assigning shareability protocol.
Talking about how startups can benefit at the early stages of IoT development, Jim says the areas with huge growth will be multiple product development opportunities for start-ups and customized products pushed through established channels like telecom. Jim believes that the game changer will be data exchanging on the Smart Cities platform and so the next big opportunity will be collecting, collating, packaging and trading of data.