The new electronic interdependence recreates the world in the image of a global village......(Marshall Mcluhan, The Gutenber Galaxy, 1962)
Smart technology and a sustainable framework is a necessity for every modern city
Three main factors are spurring acceleration in the adoption of IoT solutions:
- Technology. There has been a remarkable advances in technology with affordable sensors that enables deployment of IOT at scale. Sensors now cover the entire spectrum, from visual to sound. Computing is fast enough, storage is bigger; battery power has improved. AI and machine learning are faster for more granular insights for automated decision from sensors.
- Networks. Telecom companies with fourth-generation (4G) networks have spread to cover more people at higher performance and 5G networks are rapidly being deployed. There is visible improvements matched with connectivity options associated with capacity, speed, latency and reliability.
- Perceived value proposition. Cities see real value in deploying the IoT, a core enabler of the digital transformations and sustainability drives under way in companies and public institutions around the world. The $1.6 trillion in economic value generated from IoT solutions in 2020/21 exemplifies the technology’s ability to deliver value at scale.
All is not favorable for large-scale adoption IoT solutions.
Three factors are acting to dampen growth:
- Interoperability. the IoT landscape contains numerous proprietary ecosystems. Many companies and public-sector bodies are struggling to get to scale without significant IT work to overcome the numerous system barriers.
- Installation. is one of the biggest cost issues in the deployment of IoT solutions at scale. every at-scale deployment requires customization, if not an entirely bespoke solution.
- Privacy. is now the core issue for many consumers.
Companies are grappling with what customers are willing to give up in return for lower prices or special offers in a retail setting.
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