Agile IoT Industry Running Efficiently

The IoT@Work architecture follows a layered pattern. The layers are defined as abstractions and function groups managing the IoT infrastructure at the lowest layer, i.e. devices and networks, and the IoT applications running on top.

In between these two, the function groups include management and orchestration that deal with configuration and execution of applications on top of resources and services offered in the IoT infrastructure.

The term agile manufacturing is often interpreted differently from the various stakeholders or experts managing production systems. To some extent machine and mechanical setups could be made agile by increasing the number of combined sets of mechanical, electrical and software parameters a machine can have. This should make the machine adaptable to many needs and many types of end products.

Function groups include management and orchestration that deal with configuration and execution of applications on top of resources and services.

However, agility could also be approached in making the production system as modular as possible, with independent and intelligent components or units cooperating with each other, to create the large number of combined configurations. The manufacturing setup is meant to be reusable, smart, and could be shared by many production processes at the same time.

The factors contributing to the growth of the Agile IoT Industry are The semiconductor industry has been able to weather the fallout from the global financial crisis and realize several years of healthy growth—in part because of the widespread adoption of smartphones and tablets, which created demand for mobile and wireless applications. The industry’s average annual growth rate between 2010 and 2013 was about 5 percent.

The Internet of Things refers to the networking of physical objects through the use of embedded sensors, actuators, and other devices that can collect or transmit information about the objects. The data amassed from these devices can then be analyzed to optimize products, services, and operations.

Perhaps one of the earliest and best-known applications of such technology has been in the area of energy optimization: sensors deployed across the electricity grid can help utilities remotely monitor energy usage and adjust generation and distribution flows to account for peak times and down times.

But applications are also being introduced in a number of other industries. Some insurance companies, for example, now offer plans that require drivers to install a sensor in their cars, allowing insurers to base premiums on actual driving behavior rather than projections. And physicians can use the information collected from wireless sensors in their patients’ homes to improve their management of chronic diseases. Through continuous monitoring rather than periodic testing, physicians could reduce their treatment costs by between 10 and 20 percent, according to McKinsey Global Institute research—billions of dollars could be saved in the care of congestive heart failure alone

 Key Players

The industry’s average annual growth rate between 2010 and 2013 was about 5 percent.

The key players in the global Agile IoT Industry include- ByteLight Inc. (U.S), Fujitsu Ltd. (Japan), General Electronic Corp. (U.S), LVX System (U.S), Panasonic Corp. (Japan), Qualcomm Inc. (U.S), PureLifi Ltd (U.S), Ibsentelecom Ltd. (U.S), Lightbee Corp. (U.S),  and Supreme Architecture Inc. (U.S), among others.

Regional Analysis

North America is expected to hold the largest market share in the IoT Market during the forecast period. The countries in this region have established economies, which empowers them to strongly invest in R&D. Rapid digitalization across industry verticals, the increasing adoption of smart connected devices, and the technological advancements have further fuelled the growth of the IoT Market in this region.  Whereas, it is followed by Europe and APAC due the rapid development in the region.

Segments

The Agile IoT Industry has been segmented into component (hardware, software, services), connectivity(LAN, Wi-Fi, Li-Fi, BLE, ZigBee, ZWave, LoRa, RF, Others), deployment (Cloud, On-Premises), organization size (Large, Medium, Small), vertical (BFSI, Manufacturing, Healthcare, Government, Public Sector, Others), and by region.

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