siliconindia | | April 20188magine a scene from a sci-fi movie from the 80s or 90s where a car door opens upon sensing the driver, the air-con-ditioning automatically switch-es on and the car even greets the driver before setting off on its course. With the rapid proliferation of the In-ternet of Things (IoT), this scenario is no longer part of a fictional movie, but has become a reality. While new business models are emerging, both for the consumers and producers, the growth of `as a service' brings into perspective a ho-listic ecosystem. Take the example of an elevator company ­ it is no longer considering itself as a manufacturer, rather they consider themselves in the business of transportation - mov-ing people from one place to another although vertically. The IoT is essentially a global `network of things' that includes sev-eral devices, appliances, equipment, and machinery with the intelligence to seamlessly connect, communicate and control or manage each other to perform a set of tasks with minimum intervention. The goal of IoT is to en-able things to be connected any time, any place, and with anything or any-one. In short, IoT is not a technology, but a concept. IoT is rapidly emerging as next biggest wave in the development of the Internet. Companies are actively exploring IoT solutions and services to enhance operational efficiency and IN MY opinionISETTING SIGHTS ON A CONSUMER CENTRIC IOT ENABLED WORLD - FUTURE PERSPECTIVES FOR CONSUMER DURABLESBy Soumendra Mohanty, Head ­ Data & Analytics, LTIHeadquartered in Mumbai, LTI is a multinational Technology Consulting & IT services company enabling businesses to accelerate their business transformation journey by offering a suite of solutions in the areas of Internet of Things, Digital Consulting, Big Data Analytics, and Business Process Automation.
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