This post focuses on a particularly important technology market, the Internet of Things. IoT is at a strategic inflection point, due to explosive projected market growth and unresolved problems of wireless data throughput and energy-efficiency needs. The IoT market is projected to grow to 75 Billion devices by 2025. This growth is predicated on very high throughput wireless networks combined with high energy-efficiency which are not yet available. Existing wireless technologies, including 5G, will not meet this market need. Also, the extreme diversity of IoT applications will require both small sensors that operate using minimal energy and bandwidth and virtual reality applications with very high Gigabit per second data rates and substantial power requirements.
Five years ago, I wrote a post on this blog disparaging the state of the Internet of Things/home automation market as a “Tower of Proprietary Babble.” Vendors of many different home and industrial product offerings were literally speaking different languages, making their products inoperable with other complementary products from other vendors. The market was being constrained by its immaturity and a failure to grasp the importance of open standards. A 2017 Verizon report concluded that “an absence of industry-wide standards…represented greater than 50% of executives concerns about IoT. Today I can report that finally, the solutions and technologies are beginning to come together, albeit still slowly.
The term “Internet of Things” (IoT) is being loosely tossed around in the media. But what does it […]
In the simplest terms, the concept here is how a company can potentially increase both revenue and market share by executing a strategy to work with direct or indirect competitor(s) to the benefit of both, a win-win. The old Arab saying, “My enemy’s enemy is my friend” also applies. It can also be as simple as joining an ad hoc collaboration among a group of companies or a standards group to create market order and simplicity from an overcrowded and confused market. Customers invariably respond to products that provide the greatest value and paths to long-term increased value and cost reduction. Collaboration or “Co-opetition” is one of the most effective means to achieve that goal, particularly in an economic environment where “flat is the new up.”
In October of 2013, I first met Energy Aware’s management team, led by UBC alumni founders Janice Cheam and VP of Software, Ali Kashani in their modest East Vancouver offices. I had encountered Ali commenting on the Internet of Things (IoT) on LinkedIn, and I challenged his arguments, as the skeptic that I am. Ali very graciously invited me to meet with him to discuss it further. Home automation and its new iteration, IoT, has been around for at least twenty years and had been going absolutely nowhere. Added to that was what I termed “the Tower of Babble,” a term now also used by Qualcomm to describe the data communication hairball in the IoT space. Indeed, Energy Aware had struggled for quite awhile in this immature market. What I learned in that first meeting with Ali and Janice turned this skeptic into a believer, and I have enjoyed the opportunity to work with Al and Janice since that time providing them with tidbits of advice here and there. My gut told me that Energy Aware was on to something with significant potential, as IoT was finally achieving technological “convergence,” and the Big Dogs in Silicon Valley were now gearing up their own IoT efforts. There is a Tsunami coming, and Energy Aware is well-positioned to ride it.
Originally posted on Gigaom:
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