Menu

IoT FEATURE NEWS

Analysts Emphasize That Transformation is What IoT is All About

By Paula Bernier August 18, 2015

Projections about how many connected devices we’ll see five or more years out are all over the map. But that’s ok, because the Internet of Things movement is not about the volume of devices involved, but rather the value organizations and society as a whole get from them and the related systems and strategies.

That was the key takeaway from today’s Analyze This session at IoT Evolution Expo in Las Vegas. The panel featured a collection of industry analysts, including James Brehm of James Brehm & Associates, Steve Brumer of 151 Advisors, Andy Castonguay of Machina Research, Sam Lucero of IHS Technology, and Dan Shey of ABI Research.

“We’re talking about numbers,” said Brehm. “Who cares, we know it’s going to be huge.”

“There is an opportunity that is explosive and growing every day,” noted Brumer.

A gating factor to faster IoT growth sooner, however, is the fragmented ecosystem. There are a lot of players in the ecosystem, and the IoT industry has to move faster to consolidate them because creating solutions on this front requires too many partners and pieces at this point, Brehm and Brumer indicated. Brumer mentioned how at least four companies are involved in powering an application he uses in which a racecar on the track communicates with the pit stop.

Image via Shutterstock

Lucero said there’s already been consolidation in the module space by companies that are trying to create volume opportunities for themselves. He also noted that various network operators, like AT&T and Orange, are working to create end-to-end strategies for IoT.

The analysts offered medical, transportation, and wearables as three areas where the IoT action is.

Castonguay noted that the IoT could save transportation 10 to 15 percent in fuel costs, which he said is a hard number. He also mentioned the ability for IoT to power virtual care centers and be involved in refrigeration for vaccines.

While saving money has been a key focus of initial IoT applications, in the end it’s really about business transformation and improving quality of life, Brehm said. But it all starts with building the strategy behind these IoT initiatives, he added. 




Edited by Dominick Sorrentino

Executive Editor, TMC

SHARE THIS ARTICLE
Related Articles

IoT Evolution World Week in Review: Cisco, GE, Samsung

By: Ken Briodagh    4/29/2017

Welcome to the IoT Evolution Week in Review, my friends. This week, we've been talking about Predictive Maintenance, Satellite for Automotive, Hannove…

Read More

IoT Time Preview: Energy Efficiency

By: Ken Briodagh    4/27/2017

In this weekly series, we'll be previewing chapters of "IoT Time: Evolving Trends in the Internet of Things" for you to read in the hopes that you'll …

Read More

Illinois Sets Out to Build Digital-Ready, IoT-Trained Workforce

By: Ken Briodagh    4/27/2017

State of Illinois to partner with the IoT Talent Consortium to offer data science training to Illinois workers and learners, with cybersecurity traini…

Read More

IAR Systems Acquires Equity Stake in Secure Thingz for IoT Security

By: Ken Briodagh    4/27/2017

IAR Systems, a supplier of software tools and services for embedded development, has announced an alliance with Secure Thingz, a provider of advanced …

Read More

New Globetouch CEO Riccardo Di Blasio Tasked with Next Phase of Expansion

By: Ken Briodagh    4/26/2017

Globetouch, a world-wide provider of global connectivity solutions, has announced the appointment of enterprise expert and Silicon Valley technology i…

Read More