Succeeding in the changing Business of Things

As the Internet of Things (IoT) becomes ubiquitous and the cost of embedding connectivity and intelligence gets cheaper, companies are now focusing on how to successfully compete in the IoT. The new “Business of Things” is moving beyond selling connected, intelligent products and beyond selling new services. It is expanding to deliver compelling experiences over the life of a product.

Throughout the electronics industry, executives need to focus on IoT strategies and business models that:

  • enable “things as agents” to create more valuable
  • experiences; co-operate through the complexity of
  • evolving ecosystems to deliver these experiences;
  • and establish a new order of business that aligns the organization with an IoT strategy.

Study highlights

The convergence of IoT maturity and cognitive device intelligence offers unprecedented opportunity to create value and build stronger customer relationships

As the electronics industry expands and new ecosystems emerge, it will become more important for devices to orchestrate seamlessly across open, cross-industry platforms.

Organizational challenges rank higher than technology challenges in implementing IoT strategy as companies reinvent their identities the IoT.

About the authors

Veena Pureswaran

Veena Pureswaran
Global Electronics Industry Lead,
IBM Institute for Business Value

Scott Burnett

Scott Burnett
Managing Director, Global Consumer Electronics,
IBM Electronics Industry

Bruce Anderson

Bruce Anderson
Electronics Industry General Manager IBM

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