Jumping into the IoT revolution with eyes wide open

It is a great time to be an entrepreneur. The Internet of Things (IoT) revolution has spawned an infinite number of opportunities for innovative self-starters. The tools available to help entrepreneurs create new and amazing IoT devices and services are ubiquitous. Your imagination and a basic sense of business are really the only limits. The key to being successful is being able to avoid the surprise backend hidden costs, like a baseless patent lawsuit or a cybersecurity breach.

The revolution is just beginning

While IoT products have been in the marketplace for some time, we are actually at the very beginning of the revolution. This is because not until recently have IoT devices been able to take full advantage of the power and scale of the cloud.

Early IoT devices could be controlled remotely through the Internet but that was about the extent of their interdependencies. Today, cloud providers have platforms that facilitate the ability of an IoT device to share data back to the cloud.

Google, Amazon and Microsoft have all begun offering turnkey IoT development platforms, such as Microsoft’s Azure Sphere and Amazon’s FreeRTOS. These offerings are specifically designed to help developers:

  • Create products that manage power efficiently (e.g. automatically entering a low power state when inactive)
  • Effectively connect to the Internet, and
  • Integrate with displays, cameras and audio interfaces.

More importantly, these products enable an IoT device to effectively connect with the cloud. In addition to the connection to the cloud, the ever-expanding bandwidth send data is changing how IoT devices are utilized.

Limitless opportunities

Along with the ability to be controlled through the Internet, IoT devices are now able to effectively serve as sensors, accumulating massive amounts of data that is then sent to the cloud where it can be processed. This ability to crunch this data in real-time has created a seismic shift in the landscape. From sensors that help farmers track animals to devices  that monitor and improve manufacturing processes, IoT has changed how every industry operates. New IoT devices are being invented by entrepreneurs daily because virtually anyone can jump into the fray. That is why 90% of the worlds data that exists in the world has been generated within the last two years. And in two years’ time, we will undoubtedly be able to make the same assertion.

Copyright © 2019 IDG Communications, Inc.

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