The Internet of Things (IoT) has become one of the most talked about topics in recent years. It is nothing but the network of various objects such as devices, vehicles, buildings, and other things connected with software and more to the internet. When IoT capabilities are implemented in the industrial domain, the concept comes to be known as industrial IoT or IIoT. IIoT is an amalgamation of various technologies such as machine learning (ML), big data, sensors, Machine-to-machine communication or M2M, and automation. Also known as industry 4.0, the technology greatly benefitted industries across the world by improving connectivity, efficiency, scalability, and time and cost savings. Thus, IIoT is bound to transform companies and countries in the future, bringing a new era of economic prosperity and competitiveness. Companies will employ the IIoT to increase their revenues by increasing production, exploit intelligent technologies to fuel innovation, and transform their businesses. The industrial internet of things is used across several industries such as manufacturing, energy and power, healthcare, oil and gas, transportation and logistics, aviation, mining, and other industrial sectors.
The market for IIoT is witnessing a fast growth in recent years. Driving it are the factors such as the increase in technological investments in the developing regions, the emergence of big data analytics, the rise in adoption of IoT, the initiation of industry-specific platforms in the developed regions, and others. According to a report by Allied Market Research, the Industrial Internet of Things (IIoT) market is likely to reach at $197 billion by 2023, growing at a CAGR of 7.5% from 2017 to 2023.
Several developments took place in the industrial IoT space recently. One of them is the acquisition of the Dutch IoT company, Teleena by Tata Communications, a telecommunication company based in India. Another is the launch of a resource hub in Barcelona, Spain by the U.S.-based Industrial Internet Consortium (IIC) to start IIoT projects. STMicroelectronics, a leading semiconductor company recently introduced an ultra-low-power Sigfox monarch-ready solution to enable seamless IoT connectivity worldwide.
1 – Teleena Acquired by Tata Communications
In October 2018, Tata Communications bought a 65% stake in Teleena with the aim of enhancing its growth strategy in the global mobility and IoT market. The complete purchase comes after the former’s investment in the latter, when it had bought a 35% stake in Teleena in January 2017. Tata Communications uses Teleena on its MOVE platform with which companies record, move and manage information globally. The deal allows Tata to fully access Taleena’s technology portfolio which includes its MVNE platform, operational support system (OSS)/business support system (BSS) solution, and the expertise of Teleena’s mobility and IoT industry specialists. Anthony Bartolo, Chief Product Officer at Tata Communications, said, “The growth rate in the global mobility and IoT market is phenomenal. Providing everyone and everything in the world with seamless connectivity globally will support businesses’ digital transformation. This acquisition will accelerate our growth in the mobility and IoT market.”
2 – Launch of Resource Hub by IIC
In October ‘18, the Industrial Internet Consortium launched the IIC Resource Hub, a free interface to IoT resources at the IoT World Congress in Barcelona. The purpose of the launch is to lead to successful IoT implementations and facilitate the great opportunities in the IIoT. The hub comprises a web-based tool known as IIoT Project Explorer, which helps users plan and analyze their own IIoT projects. The IIC Resource Hub also lists down IIC resources including knowledge and expertise from IIC foundational documents, testbed insights, toolkits, demos, and relationships with global standards and industry groups for those dealing with industrial IoT projects. The Resource Hub is designed for use in several industries and technical stakeholders in IIoT.
3 – STMicroelectronics Launches Ultra-Low-Power Sigfox Monarch-Ready Solution
In October ‘18, STMicroelectronics unveiled a solution for ultra-low-power and long-range wireless IoT connectivity based on sub-1GHz radio, enabling seamless connectivity to the global Sigfox network and geolocation services. Sigfox is a French company that builds wireless networks to connect low-power objects. The solution allows users to develop region-independent smart objects that connect automatically to the local Sigfox network anywhere. This facilitates inter-regional mobility, geolocation, and asset tracking without the use of expensive GPS or GNSS positioning devices. The objects could be smart-baggage products that help to track in airports or transport hubs or those for supply-chain management and air or rail transportation in the industrial asset-management market. RaoutiChehih, Chief Adoption Officer at Sigfox said, “The launch of this Monarch solution demonstrates that we are building a solid business collaboration with ST, aiming to expand further the vast possibilities of the IoT market. The S2-LP based Ultra-Low-Power Sigfox Monarch Ready Solution will deliver a great user experience for our clients who need to enable devices to run seamlessly in all parts of the world, unlocking endless use cases in logistics and supply chain, in the consumer industry, and in automated maintenance for the shipping, aircraft, and railway industries.”