MANAGING in the

NEW WORLD

Internet of Things

The Internet of Things (IoT) provides one of the strongest chances for business growth for companies over the next few years. This is specifically true for B2B players as the market grows. The market size is expected to more than double by 2021 from the present figure of US$ 235 billion to US$ 520 billion according to marketing research firm Gartner. While the adoption rate has admittedly increased, the mood has dampened somewhat thanks to overtly bullish predictions previously made. Some CSPs (Cloud Service Providers) such as AWS (Amazon Web Services) and Microsoft Azure have emerged as influential vendors. These CSPs are able to provide more holistic solutions due to their deep expertise in business analytics. Bain and Company has conducted a study to understand the key challenges in IoT’s mass adoption by companies and cyber security has emerged as top priority. For all IoT vendors, three themes have emerged that they must follow to get their business strategy right. First of all, they must focus on getting a few industries right before a wider onslaught. The solutions developed must be end-to-end as no company would want to work with multiple partners. The barriers to adoption need be slowly removed to ensure increasing scaling up.

Source:https://www.bain.com/insights/unlocking-opportunities-in-the-internet-of-things/

Uploaded Date:13 September 2018

In the ongoing digital age, in a way every organization is in some way or the other involved with technology. The Internet of Things (IoT) has there emerged as a key differentiator especially in transforming B2B competition. The five most valuable publicly listed companies in the US- Facebook, Amazon, Alphabet, Apple and Microsoft- are all leaders in IoT and the related big data whose potential they are on the verge of exploiting. They are the orchestrators who have emerged victorious in this winner-takes-all culture of the digital age. Such orchestrators exploit three factors, beginning with quick upscaling. They also do enormous quantities of data warehousing which they use to gauge useful business insights and take decisions accordingly. They are also able to satisfy multiple requirements that customers or B2B clients tend to have. The monetization of this IoT can be divided into four stages, beginning with putting all the digital capabilities in place. This has to be followed up by putting together an internal data monetization system. External data monetization will follow. The last stage may be termed as the data ecosystem orchestration where it all comes together.

Source:https://www.bcg.com/en-us/publications/2018/how-internet-of-things-iot-data-ecosystems-transform-b2b-competition.aspx

Uploaded Date:11 September 2018

The Internet of Things (IoT) continues to grow unabated but one thing at the heart of its future story is cybersecurity. To look into this phenomenon, a study was commissioned by business consulting giant Bain and Company. The good news to emerge was that only 7 percent of those surveyed were unwilling to fork any more sums towards the field. But the bad is that out of the remaining 93 percent, only a single percent was ready to invest double and another eleven percent ready to do half that amount even. Of the total forty-two percent are willing to spend only a quarter more, the rest only ten percent. The biggest obstacle emerging is with cyber security issues.

Siurce:http://www.bain.com/publications/articles/better-iot-security-could-grow-device-market-snap-chart.aspx

Uploaded Date:28 July 2018

Policy makers and business thinkers alike affirm that by 2025, the link up of physical and digital products could generate more than eleven trillion dollars a year. The Internet of Things (IoT) is at the heart of this with sensors and actuators within networks of computing systems. A report has been generated by the McKinsey Global Institute on areas where the IoT could have massive impacts. These have been identified as – factories, urban planning, healthcare, retail, logistics, work sites, mobility, real estate and offices. Among them, factories are expected to be the biggest revenue churners of up to 3.7 billion US dollars as an upper limit. A key finding of this McKinsey report is that majority of the data warehousing that takes place from IoT devices does not get utilized. Another key finding is the lack of alignment between various devices leading to erosion of economic value. IoT also has a massive scope for growth in the developing countries, yet the focus remains on developed and industrialized ones. Customers will gain massively if all this business intelligence gleaned from the data is used in the right manner to provide solutions in the healthcare segment. A lot of futuristic producers have already taken note and are developing products keeping this linking in mind. Policy actions are also taking place to ensure an ecosystem be created to best leverage this network of connected devices.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-internet-of-things-the-value-of-digitizing-the-physical-world

Uploaded Date:23 June 2018

SKYLINE Knowledge Centre

Phone: 9971700059,9810877385
E-mail: info@skylinecollege.com
© 2017 SKYLINE. All right Reserved.