https://www.excelacom.com/resources/blog/your-living-room-is-already-connected-whats-next/

Dec 02, 2015

Your Living Room Is Already Connected, What’s Next?

By Kelly LeBoeuf

Believe it or not, according to Tech Times, the number of connected devices is growing faster than the world population! Connected devices are becoming crucial everywhere and in every industry.

Gartner predicts that from 2015 to 2020 there will be a whopping 300% increase in the number of devices connected worldwide. In 2016 there will be 6.4 billion connected devices and 20.8 billion by 2020. Among all existing and future connected devices, mobile is, and will to continue to be, the primary interface. This means that there are major challenges, as well as rewarding opportunities looking-forward for mobile carriers.

Top Connections

According to a survey executed by Statista, within the next five years, the majority of consumers are most likely to use smart appliances, followed by smart energy meters, wearable devices, connected cars and smart healthcare devices.

Excelacom Connected-Devices-Likely-to-Be-Used-in-Next-5-YearsJW
Connected Devices Likely to Be Used in Next 5 Years
  • Smart appliances, or the next generation homes, range from refrigerators, washers and dryers, ovens and vacuums. Samsung's smart refrigerator allows consumers to shop for groceries, manage inventory and track expiration dates.
  • Smart energy meters are becoming increasingly popular in both homes and businesses because they save money, increase efficiency, provide detailed information and allow for greater control over energy usage.
  • Wearable devices are continuing to appear in various industries. They range from glasses, contacts, watches, rings, clothing and more. A popular wearable, released this year is the Apple Watch, where users can easily view their notifications, track their activity, receive important information and even make purchases.
  • Connected cars are in the making to increase driver safety, while reducing accidents, traffic and fuel consumption. Google is in the testing phase for their Self-Driving Car Project and so far has self-driven over one million miles.
  • Smart healthcare devices are up-and-coming and can help both physicians and consumers track and manage numerous health related issues such as asthma, diabetes, blood pressure, fitness progress and much more. Smart healthcare devices provide real-time, more accurate data and alerts, promoting a healthier and well-informed lifestyle.

Of the connected devices listed above, along with numerous others on the market, each has the ability to connect to a smartphone. This is the connection consumers crave because when remote, they can control, manage, and constantly remain informed on various features according to their personal preferences. Communication and media providers need to adequately prepare now and for the future in order to sufficiently satisfy their customers growing needs.

Challenges

  • Increasing bandwidth capabilities. As the number of connected devices increases, so does the amount of data used. Communications and media providers will need to deeply invest in R&D to develop a faster network.
  • Modifying existing products and services. In order to support the billions of M2M devices worldwide, the technical, operational and business framework needs to be supported. Backend systems, operational processes and offerings need to be modified accordingly.
  • Security and privacy. It is up to the communication and media providers to ensure users that their data is secure and that they are transparent about the collection and use of personal information. This calls for the development and enforcement of privacy and security policies.

Opportunities

  • Additional revenue streams. By customizing the consumer's interface, providing them with the information they want, when they want it is key. In this digital transformation age, objects in every industry are transitioning to smart devices, opening doors in many industries we never thought could be connected.
  • Reduced cost. Devices that are connected are quicker because they are automated, more efficient, and have the ability to provide data in real-time, ultimately reducing cost.
  • Innovative, competitive edge. In today's digital age, consumers demand products and services that make their lives easier, save them money, are quick and easy to use and remain constantly connected in real-time. The companies that listen, understand and accurately implement the market's needs into their business strategy will shine.

With the M2M market predicted to accelerate over the next few years, reaching over 20 billion connected devices by 2020, communication and media providers must be ready. With the proper business, technical and operational strategy in place, providers have the opportunity to succeed and overcome the challenges typically faced by M2M. For more information on how Excelacom can help you plan, implement and maintain a successful M2M strategy, contact us at marketing@excelacom.com.

 
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