IoT Barometer Report – Executives Are Researching & Launching IoT Projects
Vodafone’s fifth annual IoT Barometer Report, 2107
82% of companies who have adopted IoT define its role as integrating analytics, artificial intelligence (AI) and key digital initiatives
84% of respondent’s agree that their adoption and use of IoT solutions have grown in the last year
According to the Barometer study, 46% of IoT adoption companies have integrated with their Customer Relationship Management (CRM), Enterprise Resource Planning (ERP)
IoT Barometer Report – Business Benefits
The greatest benefits of IoT can be achieved when IoT is taken beyond a project and integrated within the business
51% of adopter state that IoT is increasing revenue or generating new revenue streams
36% of respondent’s communicated that there organization saw an increase in revenue based on IoT and that growth was in excess of 20%
29% of IoT adopters reported cost reductions and that the decreases were in excess of 20%
Executives Are Researching & Launching IoT Projects
In 2017, 73% of Executives Are Researching & Launching IoT Projects
Manufacturing-based IoT connections grew fastest between 2016 and 2017 – 84%
73% of executives stated that they are either researching or currently launching IoT projects
The IoT platform market is expected to grow 35% a year to reach $1.16B in revenues by 2020
B2B uses are expected to account for nearly 70% of the potential value enabled by IoT
Go to Market IoT Research From McKinsey
- 75% of IoT experts communicate that IoT security is either important or very important, and that its relevance will increase
- Only 16% of IoT experts stated that their company is well prepared for the challenge – insufficient budget allocated to IoT cybersecurity is a key barrier
- When it comes to prediction capabilities, 16% of IoT experts interviewed felt well prepared, compared with 24 – 28% on prevention, detection and reaction
- More than 1/3 of organizations lack a cybersecurity strategy that also covers the IoT
Computerworld Forecast Study – IoT
Go to Market IoT Research – Mary Meeker Internet Trends Report
Go to Market IoT Research – Forrester Summarizes Greatest Impact for IoT
Forrester Go to Market IoT Research – IoT Is A Business-Driven Tech Trend That I&O Will Support for Each Use Case
- A majority of global enterprises are using or planning to use IoT — but that doesn’t mean I&O leaders should rush to construct IoT infrastructure for the business. IoT tech is enormously varied and complex because it is designed to address a wide range of business applications that span many industries. I&O leaders must support business leaders as trusted advisors to support business-led use cases.
Forrester Go to Market IoT Research – Organizations Must Prioritize Your Firm’s IoT Applications And Use Cases
- Forrester suggests that firms evaluate opportunities to deploy IoT-enabled applications and use cases based on three factors specific: (1) IoT use case applicability and maturity, (2) physical asset intensity, and (3) information and communications technology (ICT) spending.
Forrester Go to Market IoT Research – Evaluate The Impact Of IoT Application Deployment On Processes And Skills
- Forrester believes that implementing IoT requires I&O executives to reassess technology solutions that is expected to help deploy, manage, and secure their organization’s connected devices and processes.
- In addition, Forrester communicates that organizations will need to invest in new employee skill sets to enable IoT applications and analyze data captured from these connected products and applications.
Go to Market IoT Research – Forrester’s IoT Geographical Analysis
Go to Market IoT Research – Forrester’s IoT Industry Analysis
Go to Market IoT Research – Forrester’s IoT Use Cases
Go to Market IoT Research – Bain Defines the Battlegrounds of the Internet of Things
Go to Market Research – IoT – Consumer
- As leading mobile platform providers expand into new markets with new products (wearables, smart homes, cars) many software and hardware companies will find their niche in the IoT ecosystem.
- Companies that invest in learning which platforms offer the best market opportunities, depending on their region, industry, use case and capabilities.
- Serious competition among a small set of platform providers is expected as they will use scale, developer communities, device partnerships and businesses subsidized by data as competitive weapons. Creating platform stickiness and bridging customers across industry segments will be the critical to go to market plans.
Go to Market Research – IoT – Enterprise & Industrial
- As industrial and enterprise equipment and devices become connected, incumbents will focus on specific industries to build on their domain expertise and customer relationships by expanding into broader offerings.
- Many companies are expected to form partnerships, either to improve their capabilities (especially in analytics & security) or to acquire expertise in adjacent industries.
- Companies that can build scale and make partnerships work have the opportunity to shape platform standards. Given the diversity of industries, expect a wide range of vendor platforms that may share common features but are tailored for particular uses.
Go to Market Research – IoT – Network & Gateway
- Connecting devices through the network provides opportunities for new products and services.
- Edge analytics and real-time (or low-latency) services will become increasingly important – close to sources of data rather than in the data center.
- Many companies will look to their long-standing relationships with network equipment makers and telecom service providers to capitalize on market opportunities.
- Telcos are expected to try and capitalize on the proliferation of devices and apps in several ways. First, they will improve connections with better directory services to locate, authenticate and connect remote devices. Second, they will offer life-cycle management services to maintain, upgrade, secure and provision the complex device and sensor networks.
Go to Market Research – IoT – Analytics
- Analytics are expected to emerge as a critical platform battleground.
- Traditional analytics vendors, cloud service providers and system integrators could successfully extend their customer relationships and scale into tailored products and services.
- On the other side of the coin, new pure play vendors will offer custom analytic solutions in which limited integration with broader data sources is needed.
- Partnerships with industry incumbents will be important for both horizontal and pure play vendors.
Go to Market Research – IoT – Autonomous
- Robotics, drones and autonomous driving are among the most greenfield of all these applications.
- Robotics, drones and autonomous driving differ in that most sensor information is collected locally and processed on board, with less (though not zero) connectivity back to the cloud, creating different demands on local vs. remote data storage and processing than other Internet of Things applications.
- Real-time capabilities and technologies such as computer vision and machine learning will be important differentiators for success.