Notice: wpdb::prepare was called incorrectly. The query does not contain the correct number of placeholders (2) for the number of arguments passed (3). Please see Debugging in WordPress for more information. (This message was added in version 4.8.3.) in /var/www/blog.exxeta.com/htdocs/wp-includes/functions.php on line 4139
Internet of Things – Driving force behind new business models – EXXETA Energy Blog

EXXETA Energy

Blog

Internet of Things – Driving force behind new business models

|
Innovation

The two trending topics, digitization and industry 4.0, are closely linked to the term Internet of Things (IoT). IoT is understood as an enabler of change in society and industry. Each IoT device is connected to its own IP address, allowing it to cooperate and communicate with other IoT devices, machines and humans via the internet. In doing so, data, collected by devices’ sensors, is transmitted.1

Business models and connected applications fundamentally change the way how businesses, humans and environments communicate. This certifies the disruptive character of IoT. Which relevant impact IoT will have in the future, is shown in studies of renowned organizations.2 By 2020, according to Gartner the number of networked devices will be doubled to 20.4 billion devices. For the same year, IDC even estimates 29.8 billion. Frost & Sullivan forecasts an annual growth of 20%, implying an amount of 45.31 billion IoT devices by 2020. CISCO, the market leader in IT networks, reckons 50 billion of networked devices. This growth offers immense potential for diverse application and business models in many sectors.

Nevertheless, the era of IoT has only just begun. It is a technical foundation that is to be used cross-sectoral to develop new business models and products. In parallel, the technology is constantly enhancing. For example, by introducing the radio standard 5G bandwidths will increase and latency will decrease. This will enhance efficiency in networking.

Figure 1: Development of ratio between population (green) and networked devices (blue).2

 

EXXETAs commitment to Internet of Things

The expansion of renewable energy sources and decentralization of power generation also promotes the potential of IoT in the energy sector. The sensors of IoT devices are capable of intaking and processing information in real time, facilitating the intelligent control of electricity distribution. In doing so, IoT technology perfectly supports the usage of Smart Grids that are characterized by digital registration of consumption data. In that case, IoT may support the management of energy sources and consumers, decreasing the energy costs.

As an expert in developing specialized products for the energy sector, EXXETA uses the potential of IoT. By utilizing our expertise, we are developing new business models for our customers, to support them in challenges that come with digitization. To be able to create and further these models, EXXETA Leipzig GmbH established its own IoT laboratory. The IoT laboratory is working on developing use cases and prototypes, leading to new business models. To create the necessary creative environment for this project, methods like Design Thinking, Rapid Prototyping and agile Implementations are being used. Those methods are known for individual target group orientation by providing innovative solutions through planned iterative feedback loops. Our experienced developers, consultants and students secure successful realization by cooperating with technology partners such as Bosch.

Thanks to our fullservice-portfolio we offer our customers an extensive range of services. From connecting environmental sensors that allow live-monitoring of sensor data and remote deployment up to comprehensive support of hard- and software in the field of IoT, are just examples of how EXXETA offers specific know-how. In cooperation with our customers, this knowledge enables us to shape digitization and by that: the future.

If you are interested in IoT or a in search for a partner to implement your use case, please contact Frank.Ruttloff@EXXETA.com.

 

Sources

1 “Internet of Things Out of the Box: Using TOSCA for Automating the Deployment of IoT Environments”. In: Proceedings of the 7th International Conference on Cloud Computing and Services Science – Volume 1: CLOSER, 358-367, 2017, Porto, Portugal

2 http://blog.electronica.de/en/2017/10/01/iot-five-forecasts-for-the-next-year/

Your comment

Your email address will not be published. Required fields are marked *