The Internet of Things Transformation is a phrase that has been floating around increasingly in recent years.
The injection of IoT technology to upgrade conventional components to smart components can bring about massive benefits for companies & industries alike. However, an IoT transformation runs deeper than just including a communications module in the component hardware. A complete IoT transformation involves overhauling both the hardware & software management system for the newly-smart component; with the cloud server, user interaction platforms & more importantly, data collection, analysis and protection.
This is where the challenge of an IoT Transformation lies.
Our solution simplifies the completion of an IoT Transformation for our partners at minimal cost & effort. Consisting of both hardware & software technology, we aim to inject our mature IoT technology into components produced by our OEM partners, launching new flagship smart components in a market-welcomed update. This also allows our partners to bring their businesses green with smart products that reduce energy consumption with IoT, harness the potential of big data for planning, monitoring & preempting and increase revenue generated through a protection & expansion of their market share while taking on challenges from market leaders.
Our IoT Technology Platform consists of both hardware & software technology. On the hardware side, the electronics module is to be inserted into the smart components produced by OEMs for the ability to communicate with the cloud server.
On the software side, our technology includes the asynchronous cloud server that features a reduction in reaction time in proportion to the increase in number of devices connected. Our cloud server is also flexible in nature, allowing for fuss-free addition of unlimited additional servers ranging from raspberry pi home servers to IBM industrial servers. Our server also features high security with TLS & Public Key Encryption to protect collected data during transmission for analysis. This allows for efficient usage, fuss-free maintenance and the collection of vital usage data for analysis and feedback to users.
Unique component characteristics are also taken into consideration in our design of smart components to include automated alerts for routine component maintenance & repair when necessary & accommodate future data collection, analysis & protection needs.
The software system also features in-house developed mobile app & web usage interfaces for users, as well as developed compatibility for Amazon Alexa & Google Home to accomodate voice control.
Together, our IoT technology platform provides our OEM partners mature IoT technology which can be injected into their components under a customised IoT upgrading plan tailored to the components' unique characteristics & needs at minimal cost & time, reducing the time-to-market, especially for time-sensitive components.
Our IoT technology platform can be applied to OEM manufacturers who are looking to give the components they produce a smart upgrade with IoT technology, to achieve increased revenue via the protection & expansion of market share in competition with market leaders, along with the other abovementioned aims and benefits.
In particular, our technology is especially suitable for HVAC and lighting OEM manufactuers, both of which face a saturated market, increased competition and reduced revenue due to conventional sales channels via brand owners and distributors. In such cases, an IoT uprgade is able to give them a new playing field to compete on to increase revenue and their competitiveness in the market.
HVAC manufacturer Gree had sales exceeding 110bil RMB, and revenue exceeding 15bil RMB.
Lighting manufacturer Philips has sales of 600mil EUR for consumer lighting and 2.7bil EUR in professional use lighting.
The above only represent one market leader in each market respectively, and their sales and revenue represent only a fraction of the entire market size available for exploration with a smart IoT transformation.
In the current situation, our potential partners have two options- to develop an in-house R&D team for IoT upgrading, or to outsource this project to external R&D teams. However, such alternatives pose a high initial cost outlay and a high risk factor, as there is no guarantee of success with such alternatives. Even when successful, R&D can take up tp 6 months to complete, representing a longer time-to-market detrimental for time-sensitive industries.
With our proposal, our partners can expect a completed IoT transformation process within three months, and our experience and expertise in online retail of our smart lighting products ensures that we have a strong and up-to-date understanding of the consumer market and demand regarding smart products that we can apply when customising tailored IoT upgrading plans for our potential partners. Our rich experience in the building industry also ensures that the team is able to take into consideration industry-unique factors when tailoring this IoT upgrading plan to best harness the opportunity presented by IoT.