IoT Market and Career Opportunities
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This document discusses the growing field of Internet of Things (IoT) and its impact on business. It notes that every 3-7 years, organizations need to reinvent themselves to survive. The document outlines the three "tsunamis" of the internet, including fixed internet, mobile internet, and IoT. It provides examples of how IoT is being applied across various industries and market segments. It also discusses the need for IoT talent and the growth of IoT ecosystems to support business models shifting from product-based to outcome-based.
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IoT Market and Career Opportunities
- 1. favoriot Dr. Mazlan Abbas Chief Executive Officer (Email: mazlan@favoriot.com Digital Revolution 4.0 is Here Today Purwadhikha Tech Wave, 14-15 March 2018, Indonesia
- 2. favoriot Where Are We in the Industrial Revolution?
- 3. favoriot Business Survival in 21st Century • Every 3 to 7 years, organizations need to reinvent themselves • According to The Boston Consulting Group - S&P 500 Companies from 50 years ago – only 19% are still in existence
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- 5. favoriot Who Will Replace Your Jobs? [Source: https://www.ald.softbankrobotics.com/en/robots/pepper ]
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- 7. favoriot The 3 Tsunamis of Internet Fixed Internet Mobile Internet Internet of Things (IOT)
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- 9. favoriot Understanding IOT What is Exactly Internet of Things?
- 11. favoriot Sensors: • Camera – “Eyes” • Audio – “Ears” • Accelerometer – “Speed” • GPS – “Location” • Gyroscope – “Movement” • Compass – “Direction” • Proximity – “Closeness” • Ambient light – “Eyes” • Others… Context 1. Spatial – Location / Speed Orientation 2. Temporal – Time / Duration 3. Environmental – Temperature / Light / Noise Level 4. User Characterization – Activity (Mobility Pattern) / Social (Friends, Interactions) 5. Resource Availability – Storage / Memory / Computational / Battery Your Smartphone is an IoT Device
- 14. favoriot Why IoT Is At An Inflection Point? Hardware is cheap Connectivity is pervasive Moore’s Law continues Metcalfe’s Law ”Network Effects” Development is easy
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- 24. favoriot FLYINGTAXIAAV – Autonomous Aerial Vehicle
- 25. favoriot Understand Your Customer’s Business How the customer uses your product? What the customer uses your product for? How frequently your customer used the product? Where and for how long your customer used your product? Why your customer uses your product?
- 26. favoriot Product Manager’s Dream Utility Models Usability Models Performance Models What the product is being used for and when? How the product is being used? How efficient the product is? Moretimeisspentanalyzingthedatainsteadofgatheringthedata.
- 27. favoriot Example - Is It Worth to Track a Person? USD 20 Per Month Payfor Fun? PaytoSaveUSD 30permonth PaytogetnewRevenue USD25permonth PayforLoyalty Program
- 29. favoriot The Various IoT Market Segments CONSUMER IOT • Wearables • Consumer goods • Smart Homes COMMERCIAL IOT • Transportation • Healthcare • Smart buildings • Defense and government • Insurance • Finance INDUSTRIAL IOT • Manufacturing • Mining • Oil and Gas • Agriculture INFRASTRUCTURE IOT • Smart Grid • Utilities • Smart Cities BUSINESS
- 30. favoriot Market Potential Transportation Connected cars are a top IoT device. We estimate there will be over 220M connected cars on the road by 2020. [Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v] Insurance A survey has found that 74% of insurance executives believe the IoT will disrupt insurance within the next five years. 74% also plan to invest in developing and implementing IoT strategies by 2016, according to an SMA Research survey.
- 31. favoriot Are You A Safe Driver?
- 33. favoriot Market Potential Connected Home Smart meters are already a reality, and from the 313 million installed in homes worldwide in 2013, Navigate Research predicts that number to jump to 1.1 billion by 2022 [Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v] Agriculture We estimate 75M IoT devices will be shipped for agricultural uses in 2020, at a 20% CAGR. These devices are primary sensors placed in soil to track acidity levels, temperature, and variables that help farmers increase crop yields.
- 34. favoriot Market Potential [Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v] Agriculture We estimate 75M IoT devices will be shipped for agricultural uses in 2020, at a 20% CAGR. These devices are primary sensors placed in soil to track acidity levels, temperature, and variables that help farmers increase crop yields. Smart Buildings 43% of building managers in the US believe the IoT will affect how they run their building within the next 2 to 3 years, according to a survey from Daintree Networks.
- 35. favoriot Market Potential Manufacturing 35% of manufacturers already use smart sensors. 10% plan to implement them within a year, and 8% plan to implement them within 3 years, according to PwC [Source: http://www.cbronline.com/news/internet-of-things/m2m/smart-connected-always-on-10-huge-iot-impacts-on-10-huge-sectors-4709736v] Healthcare We estimate 646M IoT devices will be used for healthcare by 2020. Connected healthcare devices can collect data, automate processes, and more.
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- 38. favoriot favorwatch Health Profile Stability of HeartActive
- 39. favoriot favorwatch ECG Location of FallDoctors Wandering Management
- 41. favoriot Building IoT Applications Leveraging the IOT Ecosystem
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- 44. favoriot Wisdom Knowledge Information Data More Important Less Important Benefitto Hum anity Evaluated understanding Appreciation of Answers to questions. Symbols Understanding Answers to questions WHO WHY HOW WHAT WHERE WHEN Value is Created by Making Sense of Data
- 45. favoriot Wisdom Knowledge Information Data More Important Less Important Benefitto Hum anity Evaluated understanding Appreciation of Answers to questions. Symbols Understanding Answers to questions WHO WHY HOW WHAT WHERE WHEN Value is Created by Making Sense of Data
- 46. favoriot Wisdom Knowledge Information Data More Important Less Important Benefitto Hum anity Understanding Example: Smart Parking N/A Empty (0), Full (1) Who park at this lot? What kind of vehicle? Where is the empty parking lot? When is the peak period? How to implement a tiered charging? How to find “overstayed” vehicles? Why my parking utilization is low?
- 47. favoriot Smart Parking Smart Parking With Sensors Location of Parking Availability Parking Utilization Tiered Pricing Parking
- 49. favoriot The Growing of IoT Ecosystems favoriotfavorwatch Malaysia IoT Ecosystem
- 52. favoriot Home Health Transport OfficeWaste IOT Platforms - From Vertical To Horizontal Blending Data - Creating New Compound Applications
- 53. favoriot Gateway 3G/Ethernet/Wi-Fi IOT Devices IOT Devices 3G/Ethernet/Wi-Fi HTTPS Push/Pull Service Social Media Integration DEVICE CONNECTIVITY (REST, MQTT, CoAP) APPLICATION INTEGRATION DATA MANAGEMENT DATA STORE BUSINESS LOGIC NOTIFICATION ENGINE REST API Custom Reporting SECURITY BIG DATA TOOLS Application Development AUTHENTICATIO N Data Analytics
- 54. favoriot Key Features of favoriot Platform Three (3) Pricing Plans: (1) Beginner (2) Startup (3) Business You can easily create multiple projects, applications, groups, and devices. You can easily verify and see the data that streams through FAVORIOT platform. You can create a simple dashboard to visualize your sensor data.
- 55. favoriot Key Features of favoriot Platform You have the ability to geotagged and see all your data plus monitored assets on Google Map. We provide full documentation regarding how to use the REST and MQTT API complete with Tutorials on how to connect Arduino and Raspberry Pi to FAVORIOT We supported Bash, Python, Javascript or Java. Jumpstart your first IoT application by connecting Raspberry Pi or Arduino. Sample codes provided.
- 56. favoriot Examples of IoT Solutions
- 57. favoriot Product-Based to Outcome- Based Business Model IOT Business Model Continuum
- 58. favoriotIoT Business Model Continuum (Example) Product Business Model Product-Service Business Model Service Business Model Service-Outcome Business Model Outcome Business Model Business Model B2C • Sell products • Basic features (Traffic, Map Direction and Car Sensors) B2C • Sell products • Optional services (VAS) – Car Security, Car Maintenance • Information products B2B • Pay-per-use • Monthly subscription • 24x7 care services B2B • Less maintenance Less insurance • Less travel costs B2B • Higher car value • Or no car ownership (Transport-on- Demand) • Predictive Maintenance Device(s) GPS & Car sensors GPS & Car sensors GPS & Car sensors GPS & Car sensors GPS & Car sensors Ecosystem • Car Owner • Car Owner • Insurance Companies • Car Service • Car Owner • Insurance Companies • Car Service • Car Owner • Insurance Companies • Car Service • Public Transportation • Car Owner • Insurance Companies • Car Service • Public Transportation
- 61. favoriot Demand for IoT Talent [Source: http://www.financialexpress.com/industry/technology/master-of- internet-of-things-demand-for-iot-talent-surges-300-in-last-3- years/729007/ ] [Source: https://www.indianweb2.com/2017/08/02/salaries-iot-professionals-india-76-higher- professionals/ ]
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- 63. favoriot Smart Modules Smart Objects Connectivity Platform S/W Customization/ System Integrator Application s /Analytics Resellers / Channels Malaysia IoT Ecosystem As of Nov. 30, 2017 @ 10.31 am R&D/ Universities ©IoTDiscussion Group
- 64. favoriot Malaysia Needs 100K IoT Professionals Choose Your Value-Chain: 1. End-device components 2. End devices and sensors 3. Embedded operating systems 4. IT, network and OSS infrastructure 5. Security 6. IoT Middleware 7. Cloud infrastructure 8. Analytics applications 9. Visualization applications 10.Management and applications enablement software 11.Service providers 12.Vertical products and solutions 13.System integrators [Source: http://favoriot.com/blog/malaysia-needs-100k-iot-professionals-to-complement-the-big-data-workforce ]