The future of the “Internet of Things” (IoT) has however been discussed and has also been debated so much over the past two years that one might however think that the door has already closed for the entrepreneurs thinking about getting into the market. Companies such as General Electric, Cisco, IBM and the others, after all, have however already rolled out their strategies in order to colonize the large segments of the market while however nearly every venture firm has one or either a more well-funded IoT which generally plays in their portfolios.
And one must however not forget Google, which had bought nest labs for $3.2 billion.
The purpose of this article is to make the reader aware as to what is the right path for the startups who are entering the internet of things .
Fortunately, that’s thus not the case. Simply if one puts it we would realise that there are a lot more devices than the people and also most of them haven’t however been either linked up yet. In 2003, the world population was however 6.1 billion people and there were 500 million connected devices, according to the various estimates. By 2010, we however had 6.9 billion people and there were 12.5 billion devices. By 2020, we will however have 7.6 billion people and there will be 50 billion devices. If one would put it in another way, the number of devices will however rise from .08 to 6.55 per person.
But in order to succeed, startups are however ultimately going to have to make a very crucial decision: either in order to emulate Apple or either in order to emulate Micron.
Entrepreneurs however are needed in order to either focus on to building a somewhat which is thus a vertically integrated “product” company that the sells a complete service which is however under its own brand to the consumers and businesses, or must also focus on being an embedded background player which is however providing services or the technology for the established brands.
At the first blush, however following the Apple track generally seems like the very obvious choice. Apple is however one of the most valuable companies in the world, wielding a market cap that has however exceeded the value of ExxonMobil.
Also , Nest and FitBit have however done well by thus going down this path. Thus , one of the key attractions of the approach is that one must however control the customer experience and the relationship, potentially leading in order to increase the revenue per customer and also the recurring subscription opportunities. The most successful companies can however additionally open up their platforms to the third parties.
But when one would however look a little closer, relative anonymity would generally become more attractive. Most of the technology companies over the past 20 years, in fact, have however lived the lives of the relative obscurity. Demand for the flash memory, which is however one of Micron’s main products, is however exploding while the number of manufacturers has however consolidated. Micron was thus one of the top performing technology stocks in 2013.
Also, many of the early IoT markets will however prefer in order to revolve around the integrating networking and their intelligence into the products without a lot of brand pizzazz: air handlers, cold storage units, and the warehouse light fixtures. Agriculture is however already taking off as a market and is thus now interested as to how the IoT technologies can thus help in order to manage the irrigation systems and pumps.
The technology by its very nature will thus be embedded and embedded products don’t generally benefit from the glossy advertising campaigns or the word-of-mouth. Deals are however won or lost through the product specifications, field data and also a company’s ability in order to integrate itself into a larger customer’s operations.
Most of the customers which are the large industrial conglomerates that have thus been around for decades — already have however established the relationships with the manufacturers.
Also , many of the IoT companies which are however producing the services that will thus directly impact the consumers will also end up being sold like the industrial products. Utilities, for instance, will however likely be one of the biggest customers for the smart thermostats: they will also buy and then install them for free as a way in order to control the peak power. In these deals, there however might be five million end-users but also only one customer. Again, price, performance and the technical specifications will however be more important than the brand or consumer cachet.
The background route however also plays into the strengths of startups. However by concentrating on a horizontal, embedded technology stack, new companies can also compete more effectively and then however expand the market and also the same time.
However , the founders of LegalRaasta a startup which provides legal services have over powered these hurdles and have ended up in providing more than 100 + services. One doesn’t even have to go out , as it provides online services .
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