How Are Disruptive Security Technologies and Emerging Business Models Impacting the Future of Internet of Things (IoT)?
The accelerated permeation of connected devices into various industries is spurring a seismic shift in the global IoT and Edge ecosystem. Rapid technological advancements and transformative megatrends are intensifying the pressure on providers to develop customizable IoT platforms, modular components, intelligent devices, and artificial intelligence (AI)-enabled solutions with secure authentication protocols. Moreover, with vast amounts of data generated across organizations, providers are racing to transition from selling pure-play hardware and devices, towards offering more holistic IoT services and business models. Further, as customers progress on their IoT journeys –moving from internal deployments, proof of concept, and prototyping to fully integrated IoT across core services and products – the following benefits are influencing technology decisions across different industries:
- Manufacturing: Automating manual processes, optimizing on-site operations, and boosting customer service.
- Healthcare: Improving environmental, social, and governance (ESG) compliance; optimizing field operations; and improving employee safety.
- Energy and Utilities: Automation, enhancing customer service and experience, and maximizing employee safety.
- Banking, Finance, Insurance (BFI): Optimizing operations, improving ESG compliance, and augmenting customer experience.
- Retail and Wholesale: Improving ESG compliance, automating manual processes, and improving employee safety.
As a result, IoT continues to demonstrate its versatility in driving innovation across industries – from personal devices (smartphones, tablets, and watches) to complex industrial applications (smart factories, telehealth, intelligent agriculture, and smart grid management). But without a clearly defined strategy, the right technology integrations, and robust connectivity, organizations’ IoT realities will fail to match their ambitions – Which business models will strengthen your organization’s IoT portfolio and growth pipeline?
Click here to learn more about evolving customer perspectives in IoT and Edge technologies.
| Tracking Customer Perceptions: IoT Investment Plans Unveile |
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How will your teams track and analyze changing IoT preferences and investment strategies to better address evolving customer needs? |
Tackling Challenges and Complexities Associated with IoT Adoption
With the global IoT device footprint projected to reach 73.8 billion devices by 2027, the intricacy of orchestrating IoT architecture, networking, and big data analytics to achieve desired business outcomes is fervently growing. Consequently, telcos and global system integrators (GSIs) are collaborating with customers to simplify IoT deployments and mitigate the following growth challenges:
- Maintaining adequate security and data protection
- Minimizing the complexity of system integration.
- Establishing standards and interoperability across platforms.
- Addressing governance
- Tapping into the potential of big data through improved data processing and management.
Which growth strategies and collaborative partnerships will help you identify and implement IoT best practices to thwart these challenges?
Click here to learn more about evolving customer perspectives in IoT and Edge technologies.
Capitalizing on IoT Growth Opportunities that Emerge from Changing Customer Perspectives
As more companies embrace the IoT revolution, providers must find innovative ways to differentiate themselves amid rising competitive intensity. By harnessing disruptive technologies, delivering innovative business models, prioritizing security, and developing value-added services, they can carve out a unique niche in an increasingly saturated ecosystem. Further focusing on the following growth opportunities can enable providers to future-proof their IoT growth pipelines:
- Devising Innovative Cybersecurity Strategies: Developing comprehensive action plans to protect connected devices and operational technology (OT) against cyber risks and attack vectors. Additionally integrating AI, machine learning (ML), blockchain, and cloud-based security platforms to automate network/device/application security.
- Harnessing Industrial IoT (IIOT): Delivering radio network infrastructure equipment, edge computing hardware, IoT/cloud solutions, and software platforms for device and application management in industrial settings, thereby accelerating innovation in autonomous mobile robots (AMRs), industrial automation, manufacturing cobots, and connected factories.
- Leveraging Advancements in LPWAN Modules: Creating solutions that offer easy, fast, and cost-efficient ways to securely connect a large number of devices, thereby developing massive IoT solutions for asset tracking, remote monitoring, smart metering, vehicle-to-everything (V2X), agriculture, and smart cities.
- Delivering Immersive Experiences: Investing in linking the metaverse and real-world objects with smart sensors, semiconductors, and enhanced chips, thereby improving user experience, analytics, and efficiencies in digital twin applications, computer vision, extended reality (XR) devices, and industrial metaverse.
- Maximizing Sustainability with IoT: Collaborating with enterprises to understand their ESG targets and leveraging IoT devices, cloud-based analytics, monitoring platforms, and process frameworks to improve tracking and management of carbon emissions, circular initiatives, operational conditions, and sustainability metrics.
Is your growth team equipped to identify the most lucrative opportunities that drive success amid the ongoing IoT revolution?
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About Frost & Sullivan
Frost & Sullivan, the growth pipeline company, enables clients to accelerate growth and achieve best-in-class industry positioning in terms of innovation and leadership. The company’s ‘Growth Pipeline-as-a-Service’ provides corporate management teams with transformational strategies and best-practice models that catalyze growth opportunity generation, evaluation, and implementation. Let us coach you on your transformational journey, while we actively support you in fostering collaborative initiatives within the global IoT ecosystem. This journey is fueled by four powerful components, ensuring your success in navigating dynamic business and industry landscapes.
- Schedule a Growth Dialog with our team to dive deeper into transformational strategies and explore specific needs within your company.
- Become a Frost Growth Expert in your area of specialization and share your expertise and passion with the community through our think tanks.
- Join Frost & Sullivan’s Growth Council and become an integral member of a dynamic community focused on identifying growth opportunities and addressing critical challenges that influence industries.
- Designate your company as a Companies to Action to maximize your exposure to investors, new M&A opportunities, and other growth prospects.
Click here to learn more about evolving customer perspectives in IoT and Edge technologies.
Click here to learn more about growth opportunities in IoT and Edge technologies.
