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The Internet of Things Hamutal Schieber | May 2015
Transcript

The Internet of Things

Hamutal Schieber | May 2015

Introduction

• The “Internet of Things” , IoT, is one of the most discussed trends today, affecting virtually any industry.

• The main reason for IoT being a game-changer, is that it enables us to personalize, customize and remote-control virtually any aspect of our lives: our home atmosphere and temperature, our driving, our shopping, our workouts, our cooking, our locks and much more.

• This presentation aims to explore:– what is IoT?– where is the trend headed?– How can industries such as hospitality, financial services and insurance,

automotive, and others, use IoT?– What is the added value for the consumer?

What is “The Internet of Things”?

The Internet of Things, or IoT, is a network of networks of uniquely identifiable endpoints (“things”), that communicate without human interaction, using IP connectivity. (IDC, 2014)

• This helpful infographic by Goldman Sachs presents the fields that were most affected by IoT as of September, 2014.

• Yet, as the company stated just a few months ago, “personal lives, workplace productivity and consumption will all change”. And indeed, new connected-product launches are paving the way for a new reality of shopping, consumption and interaction.

Main IoT Areas

• From wearable technology to cars, connected devices can assist in monitoring, and solving, chronical health and/or safety issues.

• Target populations include:– General population – the monitoring of personal wellness is entering mainstream, with

wearable technology such as smart watches enabling the users to track, analyze and share statistics such as fitness performance, heart rate, calorie expenditure, etc..

– Seniors & Patients – chronic conditions such as diabetes, high blood pressure, heart problems and kidney problems, as well as Alzheimer, can be tracked and shared via wifi. The care taker will be able to receive alerts whenever something goes wrong. The risk, of course, is that such devices can be hacked – or produce “false negatives”.

– Children & Family – connected devices can locate each family member (including pets), and provide means of communication with young children and toddlers.

Market Size

2015 2020

2.9

132

12

Industry Forecast – Connected Devices (Billion) Source: Gartner, Nov. 2014

# Connected Devices - Consumer (billion) # Connected Devices - Industry (billion)

Market Size | By Category

Market Trends

• According to Capgemini Consulting Analysis (2014), IoT is maturing from merely providing basic Information Support, to Remote Operability Support, and from there to Performance Improvement Support.

• According to Schieber Research analysis, the next stage in IoT will be consumer centricity – from “things” to “user benefits”.

* Source: Capgemini Consulting

Consumer Benefits and Barriers

• For the IoT trend to actually develop, there must be tangible consumer benefits. In a survey by Nielsen's Affinnova group, just over 40% of U.S. adults said that the smart products they've seen so far seem like gimmicks, and 59% said they need real value to spend money on a smart product.

• According to a recent survey by Bluetooth Special Interest Group, much depends on whether brands can meet consumers' expectations about simplicity and cost-effectiveness while also allaying their concerns about data security. Currently, 67% of consumers are concerned that some smart home devices would make their data vulnerable.

•The ability to customize each device according to one’s lifestyle is a major engine for today’s consumer

Control & Personalization

•Faster, time saving solutionsConvenience

•Energy saving (less electricity) Money Saving

•Safety•Health monitoring and reportingHealth & Wellness

•Energy savingEnvironment

Consumer Benefits | Hospitality

• According to Hospa, “the hospitality industry should aim to benefit from the IoT as it is on the forefront of utilising it to enhance the guest experience and increase operational efficiency.”

• Upon arrival, check-in can be automated with cameras detecting the customer. Then, adjustments can be made to room temperature, ambience, music and other aspects, according to the time of day and the customer’s previous stay.

• Connected mini-bars can auto-charge when a product is removed, alert the need for refills, and store the data on the clients so that stock is tailored to their needs the next time they are staying with the chain.

• According to a Tnooz report, the Internet of Things enables vacation rentals to be remotely managed: thermostats, door locks, a pool or Jacuzzi, and guest check-in and check-out are all controllable by smartphone.

Source: Hospa, 2014

Consumer Benefits | Hospitality

• Aria MGM City Center Hotel Las Vegas: The hotel’s 4,300 guest rooms contain 70,000 ZigBee-enabled devices that seamlessly and wirelessly give guests full control of all in-room systems.

• One remote sets the systems in the room to personal preferences, including: lighting, temp., tv/ video / music, wake-uo scenes and drapes.

Consumer Benefits | Automotive

• A Capgemini Report (Dec. 2013) has found that safety is the most important added value for consumers in connected cars.

• Skully: a smart motorcycle helmet which helps eliminate blindspots using cameras and heads-up display.

Consumer Benefits | Insurance

• Personalization is a game-changer for the insurance industry, and connectivity allows just that: – Auto - the insurance company can receive driving data in order to tailor the most suitable

premium offer, or send scheduled maintenance reminders.– Property – connecting the property to send alerts in case of a problem can lead to lower

costs of insurance– Health – fitness tracking and health data can tell the insurer whether or not the client

performed the recommended amount of exercise, etc..

Consumer Benefits | Financial Services

• A report by Accenture suggests that the IoT will turn banking into a holistic experience: clients will be able to receive updates in real time, from various connected devices which will require money expenditure (such as energy consuming appliances). This will enable the customer to prepare or take a required action.

• Banking Tech claims that a handful of banks have chosen to participate in wearable tech trials and adapting their apps for smart watches.

Consumer Benefits | Home Automation

• The connected home has the potential to assist in controlling every aspect of daily life. For instance:– Cameras: cameras which send a

photo of the person entering the house, cameras which send a photo of the dish as it cooks…

– Appliance: washing machines, coffee makers, slow cookers, refrigerators and ovens – all controllable via smartphone

– Ambience: Thermostats, lighting – all controllable via smartphone

Smart Home – illustration by Motley Fool

Competitive Landscape

* Picture: Various Internet of Things Devices, sold by Apple.com

• Leading electrical and electronics manufacturers have already entered the IoT field, as well as other major players such as Google (with the purchase of smart thermostat company Nest) and Apple (with its HomeKit platform and collaborations such as HoneyWell).

Competitive Landscape | Collaborations

• A 2014 Capgemini Report surveys the aims of partnerships formed around “Internet of Things”. The graph demonstrates the high importance of collaborations in this sphere.

* Source: Capgemini Consulting

Competitive Landscape | Examples

• Nest (Google)

• SmartThings (Samsung)

• HoneyWell (in collaboration with Apple)

Home Automation | Examples

• Alarm.com connects all of the key devices in your home, giving you smart, responsive automation and seamless control, soon to be Apple-Watch compatible

• Philips launched Hue lights – aimed at creating an atmosphere around the house. The interface allows you to select the lights you want to control, and adjust the settings with a simple gesture.

Home Automation | Examples• Amazon recently announced the launch of the Dash Button: a physical wi-fi connected button that

enables re-ordering of certain food & non-food products from Amazon.

Appliance | Examples

• Electrolux oven has a camera to capture cooking creations. The new oven is linked to an app with a community, where consumers can connect with others to share kitchen experiences.

* Source: Digital Trends

• Philips launched Saeco GranBaristo Avanti: each drink can be tailor made to your and your guests' taste and brewed via your tablet.

Wearables | Examples

• Garmin launched Connect, a platform which syncs the Garmin device data into an online platform, in order to enable tracking, sharing, analysis, etc.

• The devices connects to an online community created specifically for Garmin devices.

Fitbit tracks every part of your day - including activity, exercise, food, weight and sleep – “to help you find your fit, and stay motivated”

Wearables | Examples

• The Nike+ Fuelband app works with FuelBand, a connected bracelet.

• T.Jacket: allows parents to give remote hugs via pressuring sensors that are activated by a mobile app.

Wellness | Examples

• Toymail – a range of talking toys which allows parents and kids to stay in touch.

• Mother by Sen.se is a monitoring system for home and family, monitoring the location of family members around the house and their various activities.

Wellness | Examples

• The Postcapes website features dozens of examples for the presence of IoT in our lives, including our bodies, homes, cities, industries, and the environment.

• Examples include devices such as mimobaby - monitoring baby movements, beclose – monitoring seniors, etc.

To Sum THINGS Up…

• The Internet of Things offers great personalization, socialization, and control to consumers, with the potential to enhance convenience, wellness, energy savings and other important aspects of daily life.

• For the trend to become mainstream, consumers must be persuaded that security and privacy issues are well-handled by the company.

Thank You

The research was conducted by: Hamutal SchieberSchieber Research | Market Research & Competitive Intelligence www.researchci.com | [email protected] Executive Summary. For the full research - please contact Carmelon Digital Marketinghttp://www.carmelon-digital.com


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