“Internet of Things” (IoT) offers exciting business opportunities

March 14, 2016

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As part of my work with Datagate Innovation, I enjoy helping our clients investigate and monetize new billing opportunities.

Datagate provides a comprehensive Cloud platform for billing recurring charges, plus variable charges for measured consumption of services – and it’s amazing how many on-line businesses and new business opportunities tend to fit this model.

One of the most interesting subjects I’ve investigated recently (that fits the Datagate billing model), is the level of maturity and viability that “Internet of Things” technology is currently reaching. New cost-effective, low-power consumption devices are now being produced that can run for up to ten years on a built-in battery and be used to remotely measure and report on all sorts of things. These devices connect to a standardized LoRa radio network which will soon be widely available in New Zealand and around the world.

LoRa networks are cost-effective, low-bandwidth and can reach areas that traditional cellphone networks can not. The LoRa networks are in-turn connected to the Internet and enable Internet applications to access low-cost measurement devices in remote locations.

To my mind, the technology and the levels of standardization are reaching the point where new viable high-growth business models are now within reach.

Business and consumer applications for IoT devices and applications seem limitless, especially in areas where remote monitoring and reporting is required. These include applications for security, agriculture, automobiles, medicine, military – to name a few. Official estimates for future take-up of IoT are astronomical. 50 billion IoT devices on-line by 2020…

This is definitely a fertile space for application-developer entrepreneurs – …and Datagate‘s billing model.

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