Convergence will be Driven by Connectivity to Define New Business Models
FREMONT, CA: The Frost & Sullivan innovation team has identified four types of convergences: products, technologies, industries and competition. In future, connected living solutions will develop more enhancements to converge various aspects of home, work and city environments. Telecom players such as AT&T, Deutsche Telekom have understood the power of convergence in their connected home platforms called ‘Digital Life’ and ‘QIVICON’. They provide converging solutions even beyond physical home environment including area of connected work.
To lead multiple options and applications of big data analytics, intelligent mobility platform and services will need the integration of players from transport, banking, mobile phone/telecom, financial to converge and form a singular intelligent solution for cities.
Connectivity and Convergence will have a great impact on business, society and personal lives. As Connectivity continuous to drive Convergence, companies need to identify the adjacent, periphery products and services that can be added as a part of their portfolio in future. Convergence solution not only isolated to connected home and work environment but also provides different intelligent solutions within a city. Many cities have adopted integrated urban solutions as part of their framework that encompasses all sectors/industries within a city, reports Frost & Sullivan.
“Companies are beginning to understand the importance of convergence. We see many players such as Google moving out of their traditional business areas to form new partnerships and new solutions. Customers no longer are interested in silo based apps or services. They demand holistic, end-to end solutions of their connected life and for that to materialise, we will see a lot more partnerships between Energy, Security, IT, Healthcare, Automotive, and other sectors,” says Archana Amarnath, Global Director, Visionary Innovation Group, Frost & Sullivan.