INTRODUCTION
Azure IoT Hub builds our Internet of Things application with communication that goes two ways. It enables safe, reliable, and secure communication between the Internet of Things (IoT) and the specific devices that it manages. A cloud-hosted solution back ends to connect virtually any possible device is provided by the Azure IoT Hub.
With the service of an Azure IoT Hub, we can extend our Iot solution from the cloud to the edge. This can be done with per-device authenticated and built-in device management. Scaled provisioning can be an aspect too.
MORE ABOUT THE AZURE IoT HUB
Azure IoT devices help us to establish bi-directional communication among millions of IoT devices. One can also use device-to-cloud telemetry data to discern the situation of our devices. It interprets the path or route of messages to other Azure services. It is done without writing any code.
We can also send commands and notifications to the devices connected in the cloud-to-device messages. We can also track the delivery of any message and can get the acknowledgment receipts along with it.
WHAT IS AN IoT PLATFORM?
An IoT platform assists as an arbitrator between physical objects and actionable insights. Incorporating various tools as well as functionalities, Internet of Things strategies allow you to assemble different hardware and software commodities for collecting, storing, analyzing, and managing the data produced by your connected devices and properties.
COMPONENTS OF IoT PLATFORMS
An IoT platform is a combination of components that allow developers to spread out the applications, remotely collect data, securitize connectivity, and execute sensor management. An IoT platform also manages the connectivity of devices and further allows the developers to build new forms of mobile software applications.
IoT platforms comprise of several components:
- Hardware
- Software
- Communication technologies
- Central repository (cloud or local)
- End-user applications
BUSINESS CONCEPTS AND MODELS
Platform Business Model
It puts together the manufacturers as well as the consumers for their mutual benefits in the marketplace.
An example can be Amazon and the voice recognition platform Alexa. Amazon sells its products to its customers by generating data through Alexa. It creates and releases certain services on the platform by charging third-party vendors as well as developers thereby increasing the revenue as well as market size.
Subscription model
To formulate a repetitive revenue business or subscription model, businesses use the always-on connectivity of IoT devices.
It also breaks the wall standing between the customers and you. This helps you to foster and grow an interactive relationship.
By accomplishing this, the device would collect more data about the customers. This will give us a chance to give valuable features to their specific requirements.
Pay-per-usage model
We can regularly monitor our customer’s surroundings to view the amount of product usage by active sensors on the IoT devices. This way one can use a business model of pay-per-usage. Here you can charge them according to the time they spend with the product/service.
Several companies of auto insurance have inculcated this business model. They have accomplished it by giving offers of mileage-based insurance plans to the customers. This way the people will only pay for the lesser rates that are based on the data which they certainly guarantee on the device rather than paying for the installed IoT device in their car.
Asset-sharing model
When it comes to essential equipment, companies tend to have huge expenditures. They also prioritize and make sure of the fact that every business must pay a lesser price for the particular equipment and still get to use it with equal efficiency.
This could come off as a little different for the consumers and the industrial firms. The former would view it as a car and scooter-sharing company like Zipcar. The former will regard it as partnering with surrounding businesses to share the expense of heavy machinery. This certainly translates to the fact that sensors of the Internet of Things will get the prerogative to track geographical location as well as the usage of machines. Minimizing the breakdowns also takes place simultaneously.
Asset tracking model
The devices that are connected in the supply chain assist businesses in identifying, monitoring, and tracking the assets in real-time. It also allows them to protect in-field assets from any kind of loss while checking for maintenance.
WHAT IS MQTT
- MQTT provides its users reliable messaging features.
- It gives a faster response time and leaves little to no room for delays.
- MQTT also has the capability to support an unlimited and wide variety of devices.
- It is perfect for many-to-many communication.
- It is armed with sufficient documentation and a strong developer community that simplifies MQTT protocol implementation.
Conclusion
With the assistance and service of an Azure IoT Hub, we can easily enhance our solution from the cloud to the edge.
IoT Platforms certainly make the business concept real. The business concepts and models offered are Platform Business Model, Subscription model, Pay-per-usage model, Asset-sharing model, Asset tracking model, and so on.
