Recently I read about Disney World’s integration of the ‘MyMagicPlus’ system, which connects each individual park visitor, via a RFID chip-embedded wristband, to the cloud- albeit the Disney Cloud. These “MagicBand” wristbands are truly innovative; similar in design to a FitBit, but with the data-mining capabilities of the IoT-rich future.
The futuristic move of converting the theme park into an IoT-laced, data mine indeed provides the magic of Disney – from their staff knowing your name before you walk into a building, to helping find your lost child. But the true magic comes from understanding that these IoT advances will soon be magnified onto our everyday life. Incredible advances in data analytics and processing prove how close we are to this reality.
More companies are joining the IoT frenzy daily by offering SDN Cloud and IoT Service Platforms that are helping to connect machines and sensors to service providers, people and their devices. Organizations are working to establish global standards and best-practices, and 5G networks will appear soon and provide 1,000 times more capacity than 4G networks, opening doors to connecting billions of devices that are expected to enter the market. Surprisingly though, wireless providers themselves are one of the largest hurdles for advancing IoT, with many resisting adding connectivity to new devices due to fears of lower APRU metrics.
CSPs must band together and embrace future innovation before competition edges them out. Perhaps creating an IoT MVNO is the transition necessary for addressing lower ARPU, while still fostering the innovation necessary to drive these new revenues.
The next few years will be an interesting ride as the IoT players determine their rightful places in the market. It might even be as fun as Disney’s Space Mountain.
Come join at at the IoT Summit at TM Forum Live! in Nice to hear more about what’s happening in the world of IoT.ToskanaINC / Shutterstock.com