The assumption for business model innovation is becoming larger with the growth of IoT technology. The conclusion for business model IoT technology has catered with a new era of contentment and automatic convenience for technology evangelists and all types of prophets. According to the reports, 2014 is being considered as the big year of the Internet of things. So it is a high time to take this huge subject into consideration in an efficient manner and start ignoring delusions. The fact that seems to be a bit annoying is that people only focusses on the things. It was observed that every time when a new product is released, that product is expected to be an another indication of the coming future. Web platform will be created in order to combine transformation of IoT generated data.
It is a consolidated framework with a method of open Application programming interface which made it feasible for programmer and beginners to completely transform the world of the 19th and in the beginning of the 20th century. There have been certain tools that will enable something to be feasible and spontaneously combined with the network. So basically it is the Internet not the things that are taken into consideration. There have been certain components that are absolutely elemental to this very concept.
Data: First is Data that is produced from the billion of devices and is considered as the most important element as it enables the digital world with real world situations. Internet of things acts as a tool in massive numbers of technological shifts taking place, thereby catering and accumulating data at an economical price.
Access is key: Access is another core component of IoT. All the data become exclusive when it comes to use by the developers and businesses who make it genuinely consistent. Latest services integrated to large drift of Data that is extracted from all the connected devices will enable Internet with an extraordinary level of context.
The API: This is another crucial part of that controls the user facing side while developing a network for machine to machine communication. The importance of M2M is increasing with the growth of IoT. API allows data to get fetched from the devices and can be used in their own applications and various other industrial sectors.
The query that seems to be a bit annoying is that all are making speculation that it is going to rise in the coming future. But if we try to figure out, then we can see massive numbers of devices around us that are connected to the internet. The internet is present everywhere in some or other form as Smart TV, live streaming, gaming sessions, Spotify in car or home sound system or tickets booking via Passbook or Google wallet. So it is not the futuristic assumption, but it exists right now in the real world. According to the reports generated, there are maximum number of people that have a key to access Internet of Things via smartphone or tablet.
Integrating Bluetooth or WiFi in any device is not that much crucial, but the main point is in fetching the data from those devices. This data can be used to gain traction among the developers so that they can use them to build services that cater real time value to the users. Thus there should be industry development that may result in growing ecosystem and figure out how to cater security for the individuals of the devices that will be connected to the web in the coming future.
By: Ridhima Gupta
Posted: July 31, 2014, 7:07 am
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