IoT Is a Divided Market — Which Piece Will You Capture, and What's Your Plan?

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The Internet of Things is the logical next step in the evolution of the Internet. The roots of IoT go back to several existing technologies including machine-to-machine communication (M2M), RFID and sensors.

Strategic Planning Assumption

By 2020, the average Internet of Things (IoT) vendor will sell into less than five vertical markets, down from more than 10 in 2017.

Summary

In recent research by Gartner- real value creation by leveraging the power of the IoT has been highlighted. As IoT expands and fragments into multiple market segments with diverse solution needs, technology business unit leaders must analyze and understand the differences to target and focus on, investments, product portfolios, and go-to-market strategy to win addressable IoT markets.

Key Findings

• Specific business value increasingly differentiates iot solution requirements. Thus, it is impossible for a "one size fits all" horizontal IoT solution to address many different IoT use cases and design patterns.
• Consumer, commercial and industrial IoT solutions need different solutions, technologies and deployment approaches that require different go-to-market strategies supported by distinct sales, support and service requirements.

Technology business unit leaders responsible for IoT product lines must:

• Align and optimize IoT solutions to a limited number of selected IoT vertical markets, and focus only on those selected markets.
• Associate go-to-market plans specifically with the chosen IoT markets, taking into account the need for not only specific IoT skills but also for IoT partners and IoT ecosystem participation.

For the full report, click here! IoT Is a Divided Market — Which Piece Will You Capture, and What's Your Plan?

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