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3.3 billion electronic devices will build commercial relationships between them by 2030/ After IoT, it's EoT's turn

2023-06-09 18:49:00, Aktualitet CNA

3.3 billion electronic devices will build commercial relationships between them

According to a study conducted by one of the largest companies in the field of research and consulting in the field of telecommunications, STL Partners, more than 3.3 billion devices will communicate directly with each other for the purpose of commerce by 2030, providing in this way to Vodafone's business customers new channels for market and revenue development.

The report predicts an astronomical growth of the Economy of Things (EoT), where through 88 million devices in 2024, users can perform actions related to business activities safely.

In a world where vehicles, electronics and machines can interact with each other via a secure digital platform, the Economy of Things (EoT) will gain over 10% of the IoT market, representing an impressive 68% annual growth .

Based on this study, Vodafone wants to offer its Business customers this opportunity, integrating its new EoT platform with the Digital Asset Broker (DAB) in the Economy of Things (EoT) market. Instead of building their own complex systems, businesses around the world can drop their new products on the DAB, Digital Asset Broker platform. Products and services are instantly verified as safe and reliable and automatically allowed to exchange and trade data and currency through encrypted connections with a high level of security.

On the other hand, consumers also feel safe knowing that they are dealing with devices verified by a trusted authority.

EoT will enable the monetization of data generated through the network of connected devices, which can interact, communicate, perform business actions with each other and simultaneously with multiple systems and in common operating environments.

The STL Partners study notes that around 75% of data generated by connected IoT devices cannot be transferred across devices and systems, which remains a large untapped resource with high value to be realised.

Jorge Bento, CEO of DAB Vodafone, said that "Seamless interaction between devices, people and sensors in the IoT domain and beyond creates tremendous monetization opportunities for our business partners and customers."

Furthermore, the report predicts that connected vehicles will have the majority of EoT devices enabled by 2030. This is because vehicle telematics is already relatively mature and the data collected by vehicles to others in the ecosystem are highly appreciated. Connected vehicles and smart infrastructure, such as electric vehicle (EV) charging points, parking space sensors, and traffic lights can communicate and coordinate directly using EoT.

Even the financial industry, which makes payments for economic purposes, sees the development of EoT technology with a positive eye. According to Mark Williamson, General Manager of FX Partnerships & Propositions HSBC “There are many opportunities with EoT, so it is very important to think about which area will see the fastest development. There is a lot of interest in electric vehicles and motor vehicles and I think that will be the starting point."

DAB provides an optimized environment for use by IoT devices, enabling secure transactions between devices...

In an increasingly digital world, everything is being done between and through electronic devices. From surgical interventions, to agriculture and even in business. Thus, the creation of platforms with a high level of security, speed and facilities that only digitalization can offer, enables businesses to perform a series of actions and create a series of commercial relationships, 100% between devices.

Thanks to wider industry collaboration, EoT will enable the monetization of data generated in a network of interconnected devices that interact, communicate, trade and transact with each other across endless systems and platforms.

In its conclusion, the report identifies the main guiding principles for those individuals, businesses and public sector organizations seeking to successfully enter the EoT ecosystem./ CNA.al