We’ve discussed how crowded the overall Internet of Things (IoT) market is, but the ultimate value in IoT lies in IoT applications. However, IoT applications require a strong technology base in order to be successful; hardware, other software platforms and software analytics, and connectivity are all important pieces to the IoT applications puzzle.
Building the necessary technology base means that organizations will need to carefully select the right technology vendors and really think through their integration process. A majority of organizations (36%) plan to choose the technologies needed themselves and then bring in a third party to help them integrate their purchases into a functional solution. This means that buyers need to carefully assess not just technology vendors, but service providers as well in order to bring their IoT applications to fruition.
Businesses are using IoT applications to improve efficiencies, lower costs, and improve product quality. While some organizations are experimenting with leveraging IoT data to create new business models, applications that deliver better experiences and efficiencies are receiving more focus in the market.
Use IDC’s new IoT Applications Market Glance to review the market in terms of both technology providers and integration specialists.
Learn more about IDC’s IoT expertise, and read the complete Market Glance document: