The Internet of Things (IoT) will be one of the hottest topics at Mobile World Congress in Barcelona (March 2-5). Sessions at this year’s show include “Everything is Connected: Enabling IoT” and “Realising the Enterprise IoT Opportunity”.
Analyst figures for that IoT opportunity vary greatly, but most agree that after a period of expectation and more than a little hype this will be the year when “things” really start to take off.
Gartner, for example, forecasts that 4.9 billion connected things will be in use in 2015, up 30% from 2014, growing quickly to reach 25 billion by 2020. The analyst company describes this growth as a “sudden expansion”, and says consumers, businesses and authorities will drive total services spending of $69.5 billion this year and $263 billion by 2020.
Smart homes will be the major driving force, accounting for 2.9 billion connected things this year and 13.1 billion in 2020. While most vertical sectors will be looking to profit, leading the way will be manufacturing, utilities, transportation and government, says Gartner. [http://www.gartner.com/newsroom/id/2905717]
So do you have a strategy in place to take advantage? The reality is that to date few organizations are successfully monetizing IoT. Capgemini’s own research, of more than 100 leading organizations in North America and Europe, found that 70% currently do not generate service revenues from their IoT solutions. [http://www.capgemini.com/resource-file-access/resource/pdf/the-internet-…
Such statistics serve both to illustrate the future complexity of the IoT ecosystem and the difficulty of monetizing services. In order to succeed, it will be vital to choose partners who can help to put the necessary technology, skills and business processes in place to leverage IoT.
Organizations will need to undergo a transformation to fully embrace digital services and working practices: A rise in the use of technologies around social media, mobility, analytics and cloud computing (SMAC) will be at the centre of accelerating IoT growth. In turn, that will require a range of capabilities and infrastructure that many enterprises currently do not have, including tight integration of back- and front-end systems and operational and support systems, real-time streaming and data analytics, and high-capacity and scalable storage systems.
Protecting Internet-connected devices from security threats, as well as dealing with data privacy risks, will also be key challenges. New research from Capgemini shows that 71% of executives surveyed think security concerns will influence purchasing decisions for IoT products. Only 33% believe that IoT products in their industry are highly resilient to cyber security attacks. [http://www.capgemini.com/resources/securing-the-internet-of-things-oppor…
But that’s not stopping first-movers from forging ahead. Barcelona is at the forefront of all things connected: Juniper Research has just named the Catalonian capital “Global Smart City 2015”. [https://www.juniperresearch.com/press/press-releases/barcelona-named-glo… While you’re in the city enjoying MWC, in between sessions why not come and talk to us about how to harness people, processes and technology securely in order to monetize IoT solutions.
See me speak on the topic at…
- Track: Business Innovation, AirWatch Connect
- Day: Monday, 2 March
- Time: 13:00 – 13:25 CET
- Location: AirWatch Connect Hall 3 Stand 3D10
Come by our kiosk, this year in collaboration with AirWatch…
AirWatch Connect Hall 3 Stand 3D10
Find out more about what we’re doing at MWC 2015