Where is FAVORIOT in the IOT Value Chain, one might ask? In the diagram above, we can see that not a single player can offer the whole value chain of IoT. Even the big players, either they chose one (or more) of them or partner or acquire other smaller companies to complete their ecosystem.

As stated in the article “Internet of Things – Business Models” written by Mohit Agrawal – “IoT platform is perhaps the most misunderstood terminology in IoT. There are different kinds of IoT platforms like the connectivity/M2M platform (primarily focused on connecting the devices via telecom networks/SIM cards without much focus on analytics or data processing), Hardware specific IoT platform (these types of platforms are most likely the proprietary platforms developed by device vendors, e.g. Nest) and Pure IoT platforms (platforms that have been specifically developed for IoT keeping the scale, standards and requirements in mind). Not all kinds of platforms would have the ability to lead the IoT effort. The winning combination is a platform that offers device management, cloud based storage, analytics, data visualization and ability to integrate with 3rd party systems via API or SDK to be able to take advantage of legacy systems as well as wide variety of other IoT hardware and software.”

FAVORIOT focuses on certain verticals that the team has the most experience and also right ecosystem partners i.e. smart cities and smart health.

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