Gaining Business Value from the Internet of Things

The Internet of Things (IoT) has the potential to drastically change the way products and services are developed, sold and consumed.

The IoT is capturing the attention of executives who want to differentiate their offerings and value-add through connected solutions.

IoT is providing companies with the ability to capture and analyze new types of data at faster rates than ever imagined.

With the IoT market still in its formative stages, this is the right time for companies to understand how data from sensors and connected devices will impact their businesses. What is the potential for new revenue and how will IoT change the competitive landscape?

Advances in technology including high-volume data storage, real-time analytics and cloud computing have led to explosive interest in IoT products and implementations. And IoT data analytics will change the way companies develop and manufacture products and redefine the way companies interact with their customers.

Companies in some industries have recognized the value of IoT for years, while other companies and market segments are only beginning to assess the potential applications and benefits of IoT. For example, robot-based IoT systems are already having a major impact on the manufacturing process and retail fulfillment in warehouses.

In addition, cities across the world are becoming smarter, safer and more efficient by analyzing real-time information from connected IoT sensors and devices. Consumers are also making use of IoT data and analysis by utilizing a growing number of services based on data from connected personal and smart home devices.

As technological capabilities increase and costs for connectivity, processing power and data storage decrease, we will see continued innovation and application of powerful IoT technologies.

Hurwitz & Associates conducted a survey, sponsored by Jabil, to better understand market priorities and expectations for IoT in the coming years.

This report summarizes the results of the survey.