IoT (Internet of Things) is considered the next-generation of the internet, which is based on IP. IoT is the product of technology and networking coming together to allow infrastructure and other resources to swap information.
The use of IoT in the M2M Management Software Market has opened up a world of possibilities for vendors, as IoT solutions can be deployed in a wide array of sectors including:
- Automotive
- Transportation
- Energy
- Utility
- Security
- Financial Services
- Retail
- Healthcare
IoT is about objects interacting with each other, even non-intelligent objects with context such as geo-location and time. IoT is trending in markets especially in the Energy sector as it helps organizations sharpen their existing business models or even develop completely new ones.
Over the last few years, many large and medium-sized organizations are adopting IoT and investing in wireless technology, fixed networks, sensors, computer systems, and applications. IoT technologies create new ways for companies to enrich their services, gain customer insights, increase efficiency, and create differentiation opportunities. Business models based on “connecting things” bring organizations closer to their customers and help them gain a better ROI.
Vendors Using IoT
Many vendors in the have already begun revising their product lines to include IoT-enabled M2M management software.
For example, Axeda provides cloud-based services and software to manage connected products and machines, and implements M2M and IoT applications.
The company’s customers use the Axeda machine cloud to turn machine data into information, build and run M2M and IoT applications, and optimize business processes by integrating machine data.
The major offerings of the company include Axeda IoT cloud services, which includes Axeda Connect, a cloud-based communication software that allows users to connect machines and devices to the cloud.
It also offers Axeda IoT platform, an M2M and IoT data integration and application development platform, and IoT connectivity, a machine cloud service that includes M2M and IoT connectivity services.
