Developing IoT solutions is a complex undertaking requiring enterprise developers to navigate an ever-increasing field of supplier and solution offerings. As more players continue to emerge in the IoT market and announce solutions ranging from connected devices to connectivity services and development platforms, the market risks becoming more fragmented. Growth in IoT and a surge in players have resulted in countless sensors, devices, interfaces, application, platforms, and analytics solutions, and the data generated must be able to be securely integrated. For an enterprise to develop an IoT solution, the company has to work with several companies operating at multiple points along to value chain. This scattered marketplace makes it difficult for enterprises to coordinate these projects between multiple suppliers.
Recognizing that no one company is able to deliver a truly end-to-end IoT solution, software and hardware companies began to focus their attention on simplifying the IoT project implementation process for enterprises by taking the friction out of the development process and partnering with other companies to create cohesive ecosystem offerings. Suppliers have recognized that they can leverage these ecosystems with their solutions in order to defragment the market and make it easier for both enterprises and developer to access end-to-end IoT solutions.
IoT Marketplaces have evolved from these partnerships, simplifying not only the process of building IoT applications for enterprises and developers, but also for these parties to connect with suppliers who can support the entire IoT solution lifecycle. IoT Marketplaces are driving the pace of IoT solution adoption by allowing buyers and sellers of IoT solutions and solution components to converge and collaborate. These open networks encourage and drive both implementation and innovation for the IoT market.
This analysis examines the issues and challenges affecting enterprises and developers in their IoT solution deployment, the benefits that IoT Marketplaces provide, and a competitive SWOT analysis of the top 10 IoT Marketplaces on the market today.