The future connected IoT ecosystems need to respond to specific IoT system and technology requirements. Building the winning team is the key to avoid heavy research and development investments when building scalable solution infrastructures and to succeed in the run towards IoT billions. 90% of this financial value being related to how these “things” are connected to the internet.
Another year is coming to an end and a lot has happened in 2019. At this time it is good to stop for a moment for the holidays, but also to take a look at the industry, not only at the present and past, but most importantly to look ahead at all the opportunities the new year will bring.
In 2019, everyone has been talking about smart devices, real-time data extraction and connectivity. And no wonder the topic has raised so much interest, as this digital transformation is opening so many new opportunities to various industries and exponentially increasing the market value of IoT devices acting as a foundation of digital business.
Gartner’s “Scenarios for the IoT Marketplace, 2019” * report forecasted that by the end of 2019 there would be 4.8 billion endpoints in use in the enterprise and automotive IoT market alone, which is already up 21.5% from 2018. The market is expected to grow to 5.8 billion endpoints in 2020. And the rate of growth is by no means going to slow down. According to a new International Data Corporation (IDC) Spending Guide ** the global IoT technology market is expected to reach around $1.1 trillion market spend by 2023. IDC forecast estimates there will be 41.6 billion connected devices worldwide generating 79.4 zettabytes of data by 2025.
The tremendous IoT market is everywhere! It is in business and in manufacturing, it surrounds us in our homes and in the cities we live in. IoT is in the gadgets, machines, buildings, jewellery, clothing etc. - you name it! It is in things that have internet connection even though it traditionally speaking should not have. IoT is becoming an integral part of industrial and civil infrastructure including devices in all aspects of life. The measurable benefits and business value stems from operational efficiency, new customer experiences and value chains, and new business models enhancing workforce productivity.
Each of these 41 billion connected devices will require new inbuilt components to bring in the intelligence and connectivity. The explosion in the rise of these new gadgets and machinery creates a huge market for semiconductors, module makers, original device manufacturers and IoT internet connection providers to step in to the game and provide globally scalable technology and solutions to serve the evolving market need. The growth opportunity goes beyond almost all recent innovation.
While IoT is entering a more pragmatic and operational phase, there are many options with IoT companies and other parties to build the best teams to meet the needs of this diverse market. The real consideration now is how to best capitalize the trend and build a winning team. Success will require collaboration with parties that are developing industry standards. These IoT leaders possess critical insights and deep understanding of the best practices from the market across geographies, vertical markets and IoT use cases within.
Selecting the right partners to support in building the solution infrastructure that can grow and scale locally and globally is the key to ultimate success of the business that it is built upon it. An essential part of this infrastructure is the ability to maintain devices globally connected at scale. The ability to bring devices online quickly, efficiently, reliably and securely is the most important part of the process of managing fleets of IoT devices. Joep van Beurden, the chief executive at CSR, notes that the maturity of the financial value captured in the market is likely to be in how devices are connected to the internet instead of the “things” it self.
The IoT connectivity landscape is not an easy playground. Technologies and operating systems used in IoT devices vary from large bandwidth to small bandwidth based on the amount of data the gadgets are intended to transmit, or how energy efficient they need to be. To be able to design a scalable family of devices to sufficiently cater to the differing needs of multiple industries, it requires flexibility in the design and adoption of advanced wireless networking technologies. To be able to easily adapt this flexibility in the chip and device designs and development processes to account for specific IoT system requirements, heavy investments can be avoided by choosing the right team of partners. Team players with technology and operating system independent and globally scalable connectivity technologies provide the winning formula locally and globally.
At UROS we believe in team play, while acting as a plug-and-play global connectivity provider for all IoT systems. We are shaping the IoT ecosystem together with organisations, alliances, programs and other industry affiliations, together at the forefront of the industry.
To succeed with our mission we work with people and partners who want to evolve, challenge the status quo and are as eager as us to build truly global connectivity services.
Santtu Harvio Director, Research & Development
In 2019 we have strengthened our cooperation with industry giants and alliances, and reached multiple important milestones together.
In the beginning of the year 2019 we demonstrated our service compatibility with 5G technologies at the local 5G Test Network facilities in Oulu, Finland as an important milestone to be able to respond to the new technology requirements in the industry.
In mid 2019 we signed a co-operation agreement in IoT and 5G applications with China Unicom IoT to further strengthen the foundation of our unique IoT Ecosystem acting as smart connectivity provider for all IoT systems in smart cities.
A third remarkable milestone for UROS was to further strengthen the cooperation with Qualcomm by announcing the plan to open IoT and 5G Innovation Center in Finland together with Thundercom, utilizing tech from Qualcomm Technologies. This Innovation Center is accelerating adoption of Internet of Things and 5G technologies focusing on smart cities, wearables, artificial intelligence (AI), robotics, drones, industrial IoT, fintech and automotive.
We thank our amazing team for all of their hard work and achievements in 2019 and will continue striving to ambitiously challenge the status quo also on 2020.