For over 30 years, Silicon Valley has been known as the world's center for digital innovation, but that perception is becoming as fresh as a flip phone. China is determined to become the world leader in the IoT, and just launched the second half of a ten-year, $US60 billion plan to cultivate domestic innovation in this space. Global IoT players with an eye toward success are thinking less about competition and more about cooperation.
In a keynote address delivered at the recent World Internet of Things Convention (WIOTC) in Beijing, noted IoT authority Viktor Ariel, PhD, Founder and CEO of SURE Universal, lauded China's remarkable IoT success in the industrial sector. At the same time, he cautioned that hardware alone will not maximize business opportunities for the IoT, and that "the competitive success of new IoT initiatives, particularly in the consumer space, will be driven by software."
Despite China's IoT successes so far, several government officials at the WIOTC noted room for improvement, particularly in the consumer space. It is here that Ariel sees an Achilles heel in China's IoT capabilities, and the best opportunity for global players in the coming IoT markets. Software products that add value to hardware, such as SURE Universal's IoT controller application, will be the driving force in the consumer IoT. "Software is obviously the opportunity," says Ariel. It will be difficult for anyone to compete with China's lead in IoT hardware."