The Internet of Things (IoT), a term for the skyrocketing number of devices that collect and transmit data via the Internet, is a game changer – but probably not in the way your company has considered. As more devices become connected – and the services and platforms created around them continue to expand — global spending on IoT will grow to $1.3 trillion in 2019, according to research firm IDC. Because so many connected “things” are involved, many companies are understandably centering their IoT strategies primarily on technology. To get a piece of the $1.3 trillion IoT prize, organizations must be open and eager to explore new service revenue models. To do so, there is no magic bullet, but as Capgemini has found in guiding organizations in their IoT journeys, there is a process. This document presents a view on how companies can look beyond the widgets and see business outcomes.
Time to move away from the sell-and-forget license mindset