September 14, 2015 | Written by: Elizabeth Wood
There’s no slowing the integration of connected devices into our everyday lives. According to New Vocabulary: Internet of Things, Marie Glenn, Senior Writer for THINK Leaders reports, “Gartner says 26 billion devices will be online by 2020; ABI Research puts that number at 30 billion, and Cisco estimates about 50 billion.” A new study from Frost & Sullivan (see more on this report below) places the number of connected devices and connected sensors at 80 billion by 2020—that’s nearly 10 connected devices to every person.
So while the experts clearly differ on exactly how many devices we’ll add to our arsenal within the next five years, no one is arguing that there are implications—and lucrative opportunities—that come with living in an interconnected world. In today’s CXO Research Roundup, we explore the burgeoning realm of the Internet of Things (IoT), and how it’s affecting the marketplace in critical and diverse new ways.
IDC: Global IoT Decision Maker Survey: Key Findings
The IoT is already a fairly well-known term. In fact, many respondents to a new IDC study reported that they were quickly moving out of planning stage and into the execution stage of making their IoT initiatives real. When it comes to understanding why companies are looking to implement these strategies,
is the top motivator, with
time to market
as other major influencers. Unsurprisingly, security and cost concerns are listed as the greatest challenges. Also in this study is useful information for vendors pushing IoT products. Spoiler alert: don’t go for the hard sell.
2. Frost & Sullivan: Internet of Things: Opportunities for Communication Service Providers in Malaysia
Information and Communications Technology (ICT) is maturing, and with the marketplace becoming increasingly saturated, it will take some serious transformation to compete. Enter the Internet of Things, and it’s changing the way entire Malaysian industries are defined. For example, telcos are seeing big revenue stream opportunity in content distribution, with big data and analytics and wearables also seen as having potential. And with the country positioned as one of the fastest growing IoT markets in Asia-Pacific, there’s a case for reviewing ongoing and future Malaysian telco efforts for scalability.
3. Forrester: CIOs and CTOS Will Turn to Services Firms for Help with IoT and Smart Products
While it may feel counterintuitive in a field that promotes connectivity, IoT products can actually create a disjointed customer experience for a brand. This is because though more and more are seeing the power and potential in IoT technologies, not all organizations are ready to go it alone. A recent Forrester report highlights the need for companies to partner with services firms to make the most of streamlining efforts to align with business objectives, and avoid the pitfalls of creating disparate IoT products.