Three essentials to capitalize IoT supremacy in APAC

Kenneth MaThe Internet of Things (IoT) has come a long way since ATMs, which was one of the first connected objects to go online in 1974. More than four decades later, IoT is starting to dominate the landscape as economies move towards a hyper-connected reality. Smart devices are now taking the wheel—literally, in the case of Hong Kong’s smart home devices.

For digitally ambitious enterprises, the true value of IoT lies in enhanced business efficiency, higher profitability, and purposeful innovation. This is especially true in Asia Pacific, the frontline of IoT in 2020, according to IDC. Companies are increasingly looking to capitalize on this opportunity, as a recent global IoT study by Aruba titled The Internet of Things: Today and Tomorrow found that 50% of organizations in Asia Pacific have enjoyed significant gains in business efficiency and innovation, while a healthy 74% cited experiencing some form of increase in profitability.

The benefits of using IoT to drive business growth are evident, according to this report, 60% of organizations in this region already have IoT in place, while 26% are expecting to roll out in the next 24 months. However, the level of preparedness for enterprises in Asia Pacific is an adversity when it comes to advancing a comprehensive IoT vision. Only 25% business leaders expressed full confidence in their organization’s capabilities to do so, hinting that companies in the region are not yet equipped to capture the full potential of IoT.

There are three essential things companies should take into account in order to build up a successful IoT strategy for the future growth:

1.  Robust storage to cope with volume and velocity of IoT data

According to British technology pioneer Kevin Ashton, the value of IoT lies on the ability to capture and effectively use data. Although nearly all organizations in the region claimed to be able to analyze IoT data, the same majority faced challenges in creating value from it. More than half struggled to manage the massive volume of data IoT generates, while 44% found difficulties ingesting data coming from multiple disparate devices.

It is important to realize that legacy storage systems are increasingly irrelevant in today’s IoT environment, and scaling it to match the volume and velocity of IoT data is becoming every IT manager’s nightmare. As such, organizations need to assess if their existing storage infrastructure to determine whether it has the capacity to store the massive amount of data, with the capability to efficiently combine and analyze data from different sources.

2. Intelligent edge architecture for scalable IoT

More than half of organizations in Asia Pacific have cited costs of implementation and maintenance as key barriers that prevent them from creating new business values through IoT. This is understandable. Many companies that relied on a centralized cloud-based business model for IoT only realized its heft price tag later, when they experienced years of expense without revenue.

Here is where edge computing comes in. Moving the computing power to the network location will help slash costs related to data management and operations while delivering the low latency, proximity, and high bandwidth perfect for time-sensitive and data-intensive applications. Intelligent edge takes it a step further by allowing systems to make operational decisions at the collection point. This will ultimately allow organizations to scale according to their needs and accelerate their IoT initiatives in a cost-effective manner.