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: AT&T, Honeywell, Nokia

By: Ken Briodagh    8/19/2017

It's about Smarter Science, Smarter Cities, Smarter Buildings and more in this IoT Evolution Week in Review

Read More

TiTANplatform Forms Strategic Partnership with China Unicom

By: Ken Briodagh    8/18/2017

TiTANplatform, a global smart content and device company, has announced a strategic partnership with China Unicom to provide smart content and device …

Read More

Automobility LA Announces Theme for 2017 Design & Developer Challenge Presented By Microsoft

By: Ken Briodagh    8/17/2017

The Competition Requires Participants to Think About the Future and Develop a Transport/Mobility Concept for the City of Los Angeles' Bid to Host the …

Read More

Centerbridge Completes $1.26 Billion Acquisition of Syncsort and Vision Solutions

By: Ken Briodagh    8/17/2017

Syncsort and Vision Solutions Combining to Create a Powerhouse 'Big Iron to Big Data' Platform; Syncsort CEO Josh Rogers to Lead Company Operating Und…

Read More

Deloitte Selects Miami Based Unified Technologies for Caribbean Cyber Security Alliance

By: Ken Briodagh    8/16/2017

Unified Technologies, an IT solutions provider with operations in the Caribbean and North America, has announced a newly established Cyber Security Al…

Read More