5 Areas Where IOT will Have the Maximum Impact
Posted on March 7, 2019
Many business owners believe they can let go of a trend, because it is not relevant to their vertical. If you believe IoT applications are not a part of your industry, think again.
By 2025, there will be over 75 billion IoT connected devices globally. IDC has forecasted that IoT spending will touch $1.2 trillion by 2025. One thing is clear – IoT is not a trend; it is a tectonic shift in the way we interact with devices.
The last time businesses were ignoring a trend, they ended up becoming obsolete; and the ones who became obsolete were giants – Blackberry and Nokia, who ignored the trend of smartphones.
Still thinking where will IoT create the maximum impact? Here are the 5 key areas that will get heavily impacted by IoT:
1. Household Goods: The biggest change that is expected will be in the way consumers interact with the very basic electronic devices in their very homes.
Alexa and Google Home have already created the demand for a virtual assistant. There are already lights, fans and ACs that can be controlled with voice commands. We already have smart fridges rolled out. The next wave of evolution will come in the form of automation.
The biggest change that Internet of Things applications will bring are hordes of data. Business can now monitor the micro level data on how are users interacting with their devices and smart devices which can share and update themselves will be able to provide more tailored experiences for the users.
2. Security: There is a common phrase in soccer – A team is as good as its weakest player. The exact though process applies to security.
Security as an industry has seen a good amount of innovation in the recent years. That said, there has always been some space for errors in the system and more often than not, these errors belong to one category – the human errors.
We all make honest mistakes but even the smallest of errors can cause security breaches. Look at Facebook and Google, companies which have spent billions of dollars into security and are still facing data breaches.
IoT application development that allows machines to interact, share data and adapt as per the required changes in situations will make networks that are not only secure but also ready for new challenges that hackers pose.
3. Retail Commerce: One of the biggest waves of innovation will hit retail commerce. Yes, there are business pundits telling that retail will be dead in some years – but they are the same people who predicted the man will be living on the moon by the end of this decade.
Retail will exist in the long run because there are certain products which need the physical touch and inspection before they are bought. No one is saying retail will exist in its current form; it will evolve and adapt.
IoT application design that helps retailers provide a more wholesome experience to the consumers will change the face of retail. Think about automated storage systems that are able to replenish the goods based on the demand forecasts or the bill-less retail environment where customers do not have to stand in ques to pay their bills and instead pay by getting their QR codes scanned in the alley where they picked the product itself.
4. Enterprise Technology: Enterprise technology is a broad term that usually entails CRM and ERP systems used by giant organizations to maintain a track of resources and projects.
IoT will give these organizations a great boost because now they can reduce the possibility of human error in data gathering and handling. Imagine this – a warehouse which is able to keep all the storage units working and adapts to the changes in the demand curve, because it is connected in real time with the point of sales software the company has adapted. Geo tagging, delivery systems and inventory replenishment are areas which have already started adapting IoT.
5. Construction, Oil and Other Heavy Industries: Practically any industry that includes heavy machinery and runs on a high risk of systemic failure, will have to adapt to IoT.
The bigger the operation is, the more data it will generate. The more data it generates, the greater it provides a possibility to automate the repeatable processes which help in cost cutting.
If you have a business that includes a lot of machinery and complex processes, some of which are recurring in nature – IoT will help you tremendously become a more agile and efficient organization. IoT is a simple system that helps your machines take the mundane operational decisions themselves, based on the data.
How Blockchain Will Be At The Core Of IoT Apps For Secure Payments
Posted on July 10, 2018
Internet of Things is peaking out of every nook and corner and standing in front of businesses. Some see it as just another buzzword and some see the opportunity. By any means, the ones who expect a lot from Internet of Things applications are greater in number. The Internet of Things services spending touched $273 billion on 2017 and is still growing as 2018 unfolds.
IoT is growing at a tremendous rate and so are the IoT applications. By 2020 itself, there will be 50 billion connected devices globally. This seems to be a really plausible number until you look at the expert’s take on these figures. Most of the experts at the centre of the IoT application design and IoT application development ecosystem, including giants like IBM, have been consistently highlighting the security risks that IoT will carry. This is a concern because although the technological development of IoT networks is lightning fast, the development of security solutions for the same is not running at an equal pace.
As per IBM, the top concerns regarding IoT systems and applications are going to be.
1. Devices lacking human monitoring will be vulnerable. Most of the devices around us today like smartphones, tablets and computers are operated as well as monitored by humans. That said, when it comes to generic devices such as a toaster with IoT application, the tech running it will not be monitored constantly by humans. This can make them vulnerable to hacking attacks.
2. The quality of software security shall decline over time. With every update, there is a possibility of a threat within the network since it will take yet another update to cover any newfound loopholes in the security. Hence, IoT applications will require constant and consistent updates throughout their lifetime because one leak in the system can make the entire system vulnerable.
3. Password protection will be the purview of the user. Most IoT devices come with default credentials; many users do not change these default credentials. Hence, these devices will remain compromised till they prompt the use to first change the default passwords and then start the usage.
4. Network arrangements will remain to be an issue. Most users are also habituated to keeping the network arrangement at its simplest or as per the given configuration of the devices’ guides. This also raises security red flags.
5. More data, more vulnerability. Finally, more data will increase the probability of data leakage points, hence increasing the vulnerability.
At the core of all of this is a possible solution which comes from a completely unrelated field of cryptocurrencies – the blockchain technology. Understanding blockchain is not difficult – blockchain is instantaneously encrypted database of public ledgers. Blockchain can solve most of the security issues with IoT. Here’s how:
a. The decentralized data storage functionality. The biggest problem with the traditional server storage system or the cloud storage system is that someday very soon it will be too filled to carry any data, after IoT applications run at their full throttle. Blockchain will actually help store the data publically in nearby devices using encryption, so even if one of the network servers goes down, it will not affect the functioning of the entire ecosystem.
b. Added layer of security. Blockchain ensures a two-way security process: One, it is consistently encrypted which ensures the data being exchanged cannot be randomly intercepted. Second, even if there are data breaches, it would be easier to track the precise point of leakage and fix it instantaneously.
c. Smart contracts. Finally, as demonstrated by Ethereum makers, smart contracts will help businesses become more efficient by reducing the human element in redundant processes and yet ensuring that the process furthers only after the agreed rules of the smart contract are taken care of.
5 Design Tips for Excelling at IoT Application Design
Posted on April 4, 2018
If your day-to-day working is related to the technology world, then there is no doubt that you have already caught the wind surrounding IoT or Internet of Things. With the first batch of the applications already out in the market like smart homes, smart kitchen appliances, smart security systems, etc. the world of IoT is expected to grow. And with this growth, the scope of work for the designers and mobile app development services is going to explode. With so many big things being lined up for IoT, we have compiled some tips that you as a designer can consider for your next IoT project.
Tips for Designing an IoT Application
1. Security Should be Your First Priority
Users are becoming savvier and alert regarding their data security in every aspect of their connectivity with the web world. This awareness is surely going to affect the Internet of Things applications and will become a big issue among everything else. For instance, you have designed an app that transmits a user’s crucial data. Will the user end up in using your app if he is not confident about the security measures you have taken for the app? I guess not. Therefore, when it comes to the cross platform mobile development and design of an IoT app, it becomes mandatory to address the security concerns right from the scratch. You should incorporate top notch encryption, authentication, and all the other required security features in it.
2. Don’t Just Think About One Niche Function
IoT apps are totally a difference scene from the applications that we are in the habit of working with. While the traditional apps are designed for a niche market so as to fulfill the demands of a particular set of people, the IoT apps are totally different by nature. These apps require complete connectivity and communication between the devices for their functioning. Therefore, when it comes to designing an IoT app, we should consider the entire ecosystem rather than focusing on a single niche. Since, the end goals of the IoT apps is complete connectivity, a special consideration to cover all the possible areas in one app is necessary.
3. Bring Your Creativity & Imagination into Action
There is not denial in the fact that IoT has introduced us to an all new range of devices that will be inter-connected to the internet. It has already extended its connectivity to wearables like watches, bracelets, etc. This in turn has brought a great opportunity for the designers as they can come up with new designs of such appliances and wearable s and give the users something new to think about. The designers can incorporate their creativity and new ideas and revamp the look of the devices that we have been using since ages.
4. Focus on the Data
One of the most important characteristic of Internet Of Things will be the transmission of huge amount of data. If we are looking for a complete connectivity between different devices, then we should not overlook the heaps of data that will be transmitted. Therefore, the best way to design an IoT app is to consider making smart devices which will avoid data overload by filtering out the unnecessary data from the data that is actually required by the user.
5. Keep it simple and minimal
While designing an IoT app, don’t give a lot of options to the users to choose from as this will end up in confusing them. The lesser the choices, easier it would be for the users to navigate through the various options and choose the one they want to. Don’t make your users think a lot while they are working on your app. Instead, make it easier from them to flow from one page to the other in a hassle-free manner.
With all this being said, we believe that by now you might have a slight idea of what to consider while working on mobile app development solutions for the IoT vertical. To know more about such tips and practices about app development and design, you can get in touch with the experts at Octos Global.
Why are companies integrating Internet of Things on their platforms?
Posted on February 20, 2018
Internet of Things has redefined the concept of ‘connectivity’ in business. A seamless connectivity between people and machines defines the integrity of a seamless business infrastructure. IoT has taken connectivity to the subsequent level, establishing a collaboration between machines. Millions of IoT devices are getting connected to serve dedicated purposes in business.
The IoT market is fast developing, and it has already made its way into the manufacturing, retail, hospitality, transportation and utility industries. Integrating Internet of Things on your platform will leverage the productivity of your business. The pioneers of the IT industry are keen on innovating new applications, that will connect the machines for a smarter business ecosystem.
The leading IoT application development companies have been efficiently collaborating with their clients, delivering customized solutions to them. Business firms across the globe are massively investing in IoT technologies. The IoT industry is projected to acquire $267 billion stature by 2020. Connected things enhance the exchange of information, which is a priority for business firms, regardless of their origin and nature.
A sound IoT infrastructure in your business ensures secured access of data on your platform. Integrating IoT applications on your platform can streamline your business. The end-to-end IoT solutions establish an agile operational mechanism for your business.
Here are reasons, leading to the integration IoT solutions on various business platforms.
In the competitive business environment, business firms find it challenging to retain the customers for long. With the inception of IoT in business, business firms are relying on the leading companies for IoT application design. Internet of Things can leverage the customer retention capabilities of companies to a great extent, enhancing the simplicity, ease and convenience in the industry.
Today, customers expect personalized services, and IoT has tremendous potential to improve the customer services. For instance, air filters used by customers need to be replaced from time to time. The company can send the replacement filters automatically, when they are needed. Business firms from all domains of the industry can reap the benefits of IoT for customer retention. Intel predicts that the world will have more than 300 IoT connected devices by 2020.
Better purchasing mechanism
The eCommerce business firms are embracing IoT solutions, as it delivers a better marketing mechanism to the business firms. Customers will have more connected devices, that are capable of making purchases. Besides, it is important to make the purchasing mechanism mobile-friendly.
The IoT solutions will enable business firms to acquire and process the necessary information in quick time. These include information like credit card details, phone numbers, email addresses, social medial profile data and so on.
Besides, the IoT devices will strengthen the internal operations within the business. In eCommerce companies, IoT can leverage the replacement mechanisms. The insightful approach of the leading companies, providing IoT solutions, deliver a flawless business infrastructure for your company.
Predicting purchasing habits
Retail store, online shops and other B2C companies can shape their marketing strategies, based on information obtained on purchasing habits of the customers through IoT. The IoT applications can evaluate the preferences, routines, patterns of shopping and other information, which can help business firms predict the purchasing habits of their customers. Even when you deal with B2B models of business, you can anticipate the needs of your clients by integrating IoT solutions on your platform.
This can prove effective in providing customized services and products, that suit particular situations. IoT ensures a simplified data analysis and compilation mechanism for your business.
The manufacturing industry is focussed on IoT application development, as it strengthens the process optimization on their platforms. Process optimization involves a number of crucial departments within these organizations.
From supply chain management and operational management to equipment maintenance, IoT can simplify all these processes by establishing a fool-proof connectivity on your platform. By integrating CRM and ERP to the internet, the exchange of information will get a boost. Companies can benefit from faster inventory management and exchange other vital information in real time by integrating IoT solutions on their platforms.
Optimizing the costs
Cost optimization is one of the key reasons behind the integration of IoT on business platforms. It ensures maximum utilization of the assets, thereby bolstering the productive output of the company. Integrating IoT solutions on your platform can cut down the expenditure to a substantial extent. For instance, real-time diagnosis and predictive analytics can help business firms in reducing the maintenance costs. Evidently, IoT can help companies maximize the benefits of the available resources.
Well, you may reach out to an established company for IoT application design. A customized solution for your business can go a long way, leveraging your internal operational and marketing mechanism. Besides, IoT is being integrated in almost every industry. 75% of the new vehicles coming up by 2020 will have built-in IoT functionality. Hospitality, housing, retail and other sectors, too, can benefit from IoT solutions. At Octos Global, Get across to the reputed developers to get a seamless IoT solution for your business.