The Internet of Opportunity

IoT encompasses a large swath of hardware, software and services that enables connecting the physical-first world for data that can be used to monitor, control and locate assets. While this simple goal is by no means easy, it starts the enterprise on an innovation journey that can lead to complete business model transformation. IoT solutions can enhance business processes by feeding asset operational data directly into the systems and applications that helped create, support and market the connected product including R&D, marketing, sales, field service and customer care.

Analytics on the product operational data can add new levels of value such as predicting a failure event or optimizing delivery operations. New products can be developed from IoT usage data or products can be offered as services. Product tracking data can improve logistics operations and proactively steer city traffic flows of cars and people. IoT provides that next level of visibility into assets and associated processes that previously had no visibility what-so-ever. Ultimately, IoT gives enterprises the tools to transform to improve customer experiences, lower TCO, create new products and services, and generate new revenue streams.

Roadblocks On The IoT Journey

But the journey to IoT implementation is one of the most complex endeavors an enterprise will be confronted with. First it involves connecting things and machines that may not even have digital interfaces. Connecting them involves selecting from a vast set of technologies to extract, package, translate, normalize and transmit asset data. Second it involves IT and OT choices for applications, system integration, analytics and cloud services. Cloud services selection is an increasingly important decision but services options are becoming more complex as cloud services expand to include public, private, hybrid and multi-cloud offerings.

Wrapped in all of this is selecting technologies from a vast supplier ecosystem and then assessing not only supplier capabilities but also capabilities supported by their adjacent partnerships. On top of this, supplier and technology options need assessment to meet security and vertical market requirements. Finally, all choices need to be balanced against enterprise internal capabilities, existing technology investments, and organizational constraints and inertia not designed to support a smart and connected product portfolio.

Unrivaled IoT Intelligence

ABI Research provides a holistic assessment of the IoT opportunity and challenges by examining and sizing it across the IoT value chain. This includes what is getting connected, how it is connected, and all the services that enable the solution and derive value from the data including application development, analytics, security, platforms, and connectivity.

This horizontal view of the value chain is sized in one of the cornerstone research products, the IoT Market Tracker that presents data at a very granular level cut across application segment, connectivity technology, service revenues, vertical market and size of business for 18 countries/regions. Supporting this quantitative assessment are deep examination of the important technologies, supplier ecosystems, application markets and services segments driving the opportunity provided in reports and competitive assessments.

ABI Research’s coverage of the IoT market is also supported by quantification of the total market for all connected things called the Internet of Everything. This data provides total connections for not only the physical-first world, but also the digital-first world which includes smartphones, tablets, PCs, and TVs.

From this body of work, enterprises can answer critical questions, including:

• What are the highest growth markets and in what service categories will there be the greatest revenue opportunity?
• How will the IoT solution revenue mix change over time and what market segments will see the biggest changes?
• What IoT suppliers should I be working with for connectivity, platform services, analytics and cloud services?
• Who are the key suppliers driving each major service segment and which ones are a fit for my organization?
• Which cloud suppliers should I partner with and why?
• What SIs and VARs should I consider for my unique IoT application rollout?
• What role does connectivity technology play in solution adoption and revenues?