FinancialBuzz.com News Commentary
The Internet of Things (IoT) market is rapidly evolving. By and large, it is thanks to advanced principal technologies and a proliferation of smart connected devices, which have helped fuel the growth of IoT technologies. Further growth in the coming years will be possible thanks to new sensors, more computing power, and reliable mobile connectivity. Sensors are the most important components in IoT devices, and according to a report by McKinsey, sensor technology--embedded in IoT devices--will continue to become cheaper, more advanced, and more widely available. In addition, based on data provided by MarketsandMarkets, the IoT market size is expected to grow from USD 300.3 Billion in 2021 to USD 650.5 Billion by 2026, while at a Compound Annual Growth Rate (CAGR) of 16.7% from 2021 to 2026. uCloudlink Group Inc. (NASDAQ: UCL), Tuya Inc. (NASDAQ: TUYA), BlackBerry Limited (NYSE: BB), Cisco Systems, Inc. (NASDAQ: CSCO), Fastly, Inc. (NYSE: FSLY)
5G technology is also expected to play an important role in IoT infrastructure by providing new capabilities. 5G is considered to be the next-generation cellular technology that will provide high speed reliable communication at ultra-low latency levels. Therefore, the widespread deployment of the 5G network is estimated to improve the operational efficiencies in several IoT use cases, including smart homes, smart cities, and industry 4.0. On the other hand, the potential adoption of 5G services for remote patient monitoring and remote surgery applications is also anticipated to help the market.
uCloudlink Group Inc. (NASDAQ: UCL) just announced breaking news that it, "has formed a strategic partnership with Tuya Inc. ("Tuya") (NYSE: TUYA), a global leading IoT cloud development platform, to initiate comprehensive technological cooperation in the field of Internet of Things ("IoT"). UCLOUDLINK and Tuya will leverage their respective technological advantages and make joint efforts into research and development in the IoT industry of cloud era.
'We are excited to extend our partnership in the IoT industry by cooperating with Tuya. Empowered by UCLOUDLINK's expertise in data connectivity services, Tuya's smart products will benefit from UCLOUDLINK's cloud SIM technology and hyper-connectivity solution to access reliable, better, and high-quality internet data connectivity services, helping users expedite the process of digital transformation and enabling them to enjoy the benefits provided by the enhanced IoT solutions," said Chaohui Chen, Director and CEO of UCLOUDLINK.
Mr. Chen continued, "The partnership will not only produce win-win outcomes but also go a long way in driving the innovation of IoT industry in the cloud era as a whole. UCLOUDLINK specializes in developing innovative IoT solutions empowering single entry point to access all available networks while reducing overall data connectivity services costs, and our solutions are widely applied in a variety of commercial scenarios including industry Wi-Fi router, IP Camera, Power, emergency services and Autopilot, etc."
UCLOUDLINK continues to facilitate the acceleration of the cloud era of IoT through its PaaS and SaaS platform based on cloud SIM technology and hyper-connectivity solution. The possible surge in demand for IoT cloud services will create significant business growth opportunities for UCLOUDLINK. As the pioneer technology solution provider in the data connectivity sector, UCLOUDLINK will keep collaborating with more business partners worldwide to accelerate the development of IoT industry in the cloud era."
Tuya Inc. (NASDAQ: TUYA) reported last month a new partnership using Cube Solution to launch value-added, cloud-based services and products in Indonesia. Using Tuya's private IoT service deployment solution, Cube Solution, Telkom launched a consumer segment smart home service, IndiHome Smart, and a small and medium-business solution, sooltanCam. IndiHome Smart is Telkom's smart home IoT system that enables users to integrate and control smart home devices anywhere by using their smartphone. Backed by Tuya Smart, IndiHome Smart is brand neutral, allowing popular Indonesian smart home brands, including Bardi, Hannochs, Den, and Arbit to be controlled from within the IndiHome Smart app. By integrating with Indonesian original equipment manufacturers (OEMs), Telkom is able to adopt an asset-light model to easily offer new services to clients across Indonesia.
BlackBerry Limited (NYSE: BB) announced on March 20th, 13 channel partners (Distributors & Value Added Integrators) that will offer BlackBerry(R) Jarvis(R) 2.0 to companies that build secure, mission-critical systems in APAC. Whether in transportation, medical equipment or on the factory floor - BlackBerry Jarvis is key for industries that must adhere to strict regulations while managing complex supply chains and the escalating risk of security attacks on cyber and physical systems. "Asia Pacific is at a tipping point in how it protects infrastructure and industries against growing IoT security threats as digital automation continues to advance," said Dhiraj Handa, VP, Asia Pacific, BlackBerry QNX. "As a leader in mission-critical solutions, BlackBerry QNX is excited to enable so many ecosystem partners to deliver BlackBerry Jarvis across more sectors, offering rapid, trusted intelligence to companies, developers and regulators that need to protect IP, address compliance issues and deploy security resources where they are needed most."
Cisco Systems, Inc. (NASDAQ: CSCO) announced on June 16th, it is collaborating with Axians, a Vinci Energies brand, to provide Cisco private 5G to enterprises across industries in Germany and the Netherlands. "Providing 5GaaS gives us the opportunity to plan, build and run holistic campus networks together with existing infrastructure like Wi-Fi and private cloud," said Jacques Diaz, CEO, Axians Germany. "Partnering with Cisco, we are able to fully provide our customers with a private 5G solution that connects OT assets with the world of AI, IoT and digital M2M communication," said Rob van Kaathoven, CEO, Axians Netherlands.
Fastly, Inc. (NYSE: FSLY) announced on May 19th, it has acquired Glitch, a developer platform where more than 1.8 million developers innovate, create, and share full-stack web apps without having to run the infrastructure or manage tools themselves. "Fastly was founded by developers, for developers and, together with Glitch, we take an important step forward in making it easier for customers to innovate at a layer in the software stack that they could not access before," said Artur Bergman, Chief Architect at Fastly. "This acquisition brings together two of the world's best ecosystems for application development into a single, seamless developer experience to deliver globally performant, secure and reliable applications at scale."
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