With the development of IoT and new technologies, many companies are designing their businesses model in a more flexible and scalable way, bringing the rise of IoT-as-a-Service.
The connectivity brought about by the Internet of Things (IoT) is enabling the development of new technologies in almost every industry. Not only is the IoT transforming products and technologies, but it is also changing the way businesses are modeled. Many companies are designing their businesses in a more flexible and scalable way, bringing about the rise of IoT-as-a-Service (IOTaaS).
The development of IoT-as-a-Service (IOTaaS) can be traced back to the IT-as-a-Service business model. As the internet became more readily available and reliable, companies realized that they could reduce costs by accessing applications located in someone else’s data center without the investment in infrastructure, software and staff. Similarly, software-defined solutions have become a way to limit upfront costs.
To give products a competitive advantage, they must be connected as well as network-native for over-the-air software updates, online support and diagnostics or the latest security patches. Software-defined solutions are designed to provide manufacturers with an inexpensive way to utilize the full value contributed by IoT. This IoT value contribution could be better ongoing or preventative maintenance on appliances or physical assets. For example, cars now have the ability to convey to their owners that they need a service or a repair, and can also report usage and status.
Electra is one company that is taking full advantage of the IoT value contribution. The Israeli air-conditioner manufacturer designed a connected air conditioning unit that can report malfunctions back to the company so they will be able to know when a unit needs a repair. The additional IoT value contribution provided by these software-defined solutions is that from the data sent by connected devices, manufacturers can better understand usage trends and identify problems that lead to higher warranty costs.
Other applications of IOTaaS include detailed analytics that can be used by customers to measure the performance of their equipment. Many manufacturers offer custom analytics dashboards that measure performance against industry benchmarks, improving efficiency and productivity. With the data collected through the use of software-defined solutions and visualized with analytics dashboards, the IoT value contribution goes further than just saving costs. IoTaaS has the potential to help manufacturers reduce environmental impact and improve safety conditions.
At SURE Universal Ltd., we have developed a software-defined IoT platform that facilitates the use of IoT appliances with smart devices no matter the brand or manufacturer. We offer a platform as-a-service so our technology can be used by operators and manufacturers in any industry. This allows our customers to take full advantage of the technological advancements made possible by the IoT in a way that is both efficient and inexpensive.