A study was conducted recently by management consulting behemoth- Bain and Company – to understand the key points which are keeping enterprise customers away from adopting IoT (Internet-of-Things) technology. This is the third year of this study and like them last time as well, cybersecurity issues figure right on top. This is followed by the IT integration with larger issues and an unclear business footprint, exactly like last year. Data portability and vendor risk are newer issues that have come up the rankings of concerns, though not yet among the top three. Legal issues are no longer so severe thanks to proactive steps taken across the board. The business conundrum, especially on returns will need to be solved pretty soon, before any enterprise customer decides large-scale IoT adoption. Remote monitoring will increasingly need to be part of any suite as it helps in better integration with standalone devices.

Source:https://www.bain.com/insights/whats-keeping-enterprise-customers-from-adopting-IoT-technology-snap-chart/

Uploaded Date:26 September 2018

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