IoT platforms are being shaped by varying entry strategies of different companies trying to capitalise on the IoT potential.
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Jasper, even though it was an IoT platform company, built a strategic combination of hardware, software, data and services.Īlso Read: Asia Pacific will be a driver of global IoT growth in the next 5 yearsĪnother important aspect to note here is that the core architecture of IoT platforms are same, but not all IoT platforms are the same. However, there is something that one should note before jumping on this hype. This acquisition has further churned the expectations of the IoT opportunities today. In 2016 Cisco acquired Jasper - an IoT platform company - for US$1.4 billion. There are more than 300 IoT platform companies in the world today.
If one sets out to be offering IoT solutions on project basis and ignoring a service business model, then it surely would be not be a sustainable IoT business and cannot reap the true benefits of this emerging opportunity. Another reason why IoT will continue to be a hype and many will fall flat similar to failure of the online delivery businesses in 2016 in India is due that there is no clearly identified and focussed core sector for its IoT play. The interconnection of these embedded devices is expected to usher in automation in nearly all field.
Story continues IoT needs a comprehensive business modelĮxperts estimate that the IoT will consist of almost 50 billion objects by 2020.