Authors: Alan Griffiths and Peter Thorne
Executive Summary
This report describes the landscape of the industrial Internet of Things (IoT) market, covering the complex ecosystem of technology providers and how the IoT can be an enabler for digital transformation in a range of industries.
It is intended for senior executives involved in company strategy and business planning as well as operational executives in resource planning, sales and marketing. It is a shortened version of a longer report that will be available separately.
In this report, we take a snapshot of the changing landscape of IoT tools, technologies and systems and focus on the questions “what is the industrial IoT?”, “who are the main providers of IoT technology?” and “who pays whom for what?”. To answer these questions, we reviewed leading vendor offers to understand how they deliver diverse, innovative IoT systems, and how they overlap with digital transformation.
We also discuss the disruptive effect of the IoT on industry, and where this may lead in the near future. A separate ‘Observatory’ will show the Total Available Market for industrial IoT technology by revenue, and segment it by product, country and industry.
The underlying information is sourced from structured interviews with many of the key players in industrial IoT, one of whom explained the forces behind the current upheavals, disruptions and opportunities:
“The first driver for the spread of IoT was the proliferation of mobile phones, which drove down the cost of sensors – cameras, GPS, accelerometers.
“This drove down the cost of acquiring data. At the same time, Cloud computing emerged, which provided a platform where this data could be stored and analysed relatively cheaply. Altogether, this provides the basic framework for IoT. Other technologies such as Big Data, AI and Machine Learning are now coming into play to help make sense of this data, taking it to a whole new level.”Rhonda Dirvin, director IoT vertical markets, ARM
The most dramatic success stories involve digital transformation; while the industrial IoT is not the same as digital transformation, it is a key enabler and is often the catalyst.
Report outline
This report summarises the industrial IoT market landscape in the following sections:
- Introduction; re-imagining products, processes and business models; ‘personal’ and ‘industrial’ IoT; the evolution of industrial IoT.
- Who should read this report? the key business functions affected and the people/roles involved in those functions who might benefit.
- Digital transformation and the IoT; the role of IoT in digital transformation.
- The six layers of technology that make up the industrial IoT; understanding the underlying technology helps understand what the various providers offer and where they compete or cooperate.
- The main industrial IoT providers (‘who does what’); the IoT ‘ecosystem’ and the categories of companies that offer solutions for the IoT market.
- The business case for IoT; how IoT can add value and ways to get started.
- The economics of IoT (‘who pays whom for what’); we provide ‘use cases’ and examples to show how providers deliver solutions – often using new pricing and cooperation models.
- Challenges and trends in industrial IoT; the main challenges and trends based on our interviews, research and insights.
- Acknowledgements: to thank all the companies that fielded executives and experts who provided input to this report.
- Further reading and research: interesting and relevant articles, books and papers, and the next steps for our research
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