Global networking technology company Cisco, is one of many smart grid vendors vying for position in the burgeoning Internet of Things (IoT) market and has recently introduces 15 products to address the complex nature of IoT deployments.
According to a published report by Washington-based research and consulting firm Northeast Group, LLC, there are currently more than 500 smart grid vendors both competing and partnering with one another to capitalise on the US$380 Billion Power Sector "Internet of Things" market.
Ben Gardner, President of Northeast Group said: “Smart grid infrastructure is the first concrete example of the 'Internet of Things' on a significant scale.
"Smart meters with two-way communications and other sensors across the power grid are already providing tangible benefits for utility customers. The next decade will see billions invested in the global smart grid market, creating a huge opportunity for vendors."
Identified by Northeast Group as one of the forerunners competing in the Internet of Things market, Cisco said that its IoT System would seek to address IoT complexity and was designed to “manage large-scale systems of diverse endpoints and platforms, and the data deluge they create.”
Six IoT pillars
The California-based company has identified six ‘pillars’ or technology elements which it claims to be crititcal to the success of IoT deployments.
These pillars include network connectivity (implementation of routing, switching and wireless products); fog computing (distributed IoT computing infrastructure); security (bringing together cyber and physical security); data analytics; management and automation (provision of security, control and support) and finally, application enablement platform – allowing interested parties to create and develop applications on a robust IoT foundation.
Doug Davis, senior vice-president and general manager of Intel’s IoT Group – which assisted in the development of the IoT System – said: “IoT is a significant opportunity, but one that needs interoperability and scale to fulfil industry predictions of billions of connected devices.
“The IoT pillars serve as a strong foundation for companies to build IoT solutions that can be seamlessly interconnected and achieve the scale that delivers the value promised."
Cisco has rolled out several Internet of Things products including switches, wirless access points and industrial routers and Fog computing services which has already been integrated into other smart grid vendor solutions.
The companies IoT solutions are pitched to stakeholders in the maufacturing, oil and gas, utilities, transport and public safety industries.