When Cisco (CSCO) acquired Jasper Technologies for $1.4 billion a year ago, it was with the intent to make Internet of Things (IoT) simple and scalable.
At the time of acquisition, Jasper had over 3,500 enterprises – a number that has grown to 9,000 while the devices under management has shot up from 17 million to more than 40 million, exhibiting its increased adoption driven by its diverse IoT use cases. Recently, Cisco made some exciting announcements at the Mobile World Congress to expand its reach in the IoT space while showcasing its offerings to businesses.
Cisco-Jasper offers a platform that not only connects ‘things’ but also collects and analyzes data to provide scalable solutions to resolve long-standing challenges across industries such as automotive, logistics and transportation, energy, healthcare, retail, manufacturing, smart cities, homes and buildings, agriculture and payment solutions. The IoT solutions by Cisco-Jasper provide an opportunity to improve productivity, enhance revenue, lower operational costs, expand product offerings and even access newer markets.
Cisco is now one of the first IoT platforms to support NB-IoT (Narrow-Band IoT), a step taken in response to the rising demand by companies for low-cost, low-power IoT devices. Cisco believes that “NB-IoT is expected to drive growth of IoT at a massive scale, increasing the number of connected devices more than 3 billion by 2023.”
In other words, the NB-IoT protocol is ideal for smart meters, smart cities, smart parking, building automation, asset tracking and remote agriculture. The market size for NB-IoT is expected to grow at a Compound Annual Growth Rate (CAGR) of 91.3%, from $320.5 million in 2017 to $8.22 billion by 2022, as per estimates.
Cisco has collaborated with Jupl to promote safety and wellness among the elderly population by launching a wearable mobile Personal Emergency Response System (mPERS). The wearable device works without a smartphone and will leverage the “Samsung Gear S3 smartwatch and purpose-built software from Jupl.” The data for December quarter suggests that 15.6% of consumers in the U.S. own a smartwatch or fitness band.
These devices, managed via the Cisco Jasper Control Center IoT platform, will serve the purpose of a Personal Emergency Response System (PERS) (which means it can automatically notify emergency services as well as healthcare professionals) and enable biometric monitoring, thereby taking care of the user’s vitals as well as provide location tracking and assistance.
This segment of IoT has immense scope as the global IoT healthcare market (medical devices, systems & software, and services) is estimated to reach nearly $410 billion by 2022 from $58.9 billion in 2014, as per a report.
Connected car is a subset of the overall IoT segment which is gaining significant popularity among automakers given their potential to add billions in revenue. According to a PwC report, the global car market has the potential to build considerable value from the sale of connected car packages to end customers – $155.9 billion in 2022, up from $52.5 billion in 2017, growing at an average annual growth rate of 24.3% subject to certain factors.
Cisco enjoys the first-mover advantage in the connected car space and is endorsed by more than 23 of the world’s largest auto manufacturers. Now, Cisco Jasper IoT solutions will power Honda’s Connected Car platform – MyHonda – in association with Bright Box. Honda will provide benefits such as vehicle information and diagnostics, simple scheduling of maintenance as well as GPS tracking for location-based services through the MyHonda Connected Car platform.
Currently, IoT enjoys the fastest adoption rate among most advanced technologies. With projections of 22.5 billion IoT devices in 2021 (from 6.6 billion in 2016) with $4.8 trillion in aggregate IoT investment between 2016 and 2021, the IoT space is the next big thing. Cisco’s ecosystem of strong cyber security systems, cloud and IoT offerings makes Cisco Jasper one of the most suited IoT platforms for businesses across industries.
“The Internet of Things: It’s not about things, it’s about service,” says Cisco. Internet of things will give a whole new dimension to the world around us and to the balance sheets of the businesses and providers such as Cisco.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.