A number of engineering students whom I interact on a regular basis, were grappling with SMAC technology! Social media, mobility, analytics, cloud computing and then they go and add an “i” to confuse you further. Internet of Things ( generally abbreviated as SMACi) technologies stirred much conversations during your PI & GD rounds. Some of you who are still undecided and are wondering how to capitalize on the i; here is a low-down on Internet of Things.
These technologies are facilitating enterprises in leveraging cloud for storing large volumes of customer data; and analyzing them for better business performance. In 2015, the adoption of SMACi was evident across geographies and sectors for supporting diverse functions which included improving efficiency of sales force, managing employee retention, or driving intelligent communication between machines, among others.
SMACi is now among top three CIO priorities, and CIOs are expected to make the investments towards it. In India, it will present a $225 billion business opportunity for the IT and BPO industry by 2020. Looking towards 2014 and beyond, SMACI technologies will continue to grow and eventually obtain a more mainstream status. Nearly 25 billion ‘things’ will be connected to the Internet, and the IoT will add $2 trillion in economic benefits worldwide. IOT is expected to touch every aspect of your life. So, if you are looking for avenues for better opportunities, where should you invest?
So, pick up a segment like Sensor companies, Chip companies, Software and services companies, Analytics companies or Device makers. Don’t overly fret over the segment though. Do a research about the big companies investing in these technologies. (like GE uses millions of sensors in its industrial machinery, and makes its own IoT software too; Both Google and Microsoft have created software to power Internet of Things devices). If required there are small companies too, which are investing heavily in these segments. Start ups in Bangalore are exploring these new fields.
So, if you have the appetite for adventure and want a steep learning curve in a sector which is bound to explode .. 2016 presents an opportunity.
With a warm handshake in Thought .. go and explore