Market Insights
2017 Roundup Of Internet Of Things Forecasts
Writing for Forbes, Louis Columbus reviews the marketplace for IoT in his December 2017 article, "2017 Roundup of Internet of Things ...
He shares the following statistics in his article:
- Global IoT market will grow from $157B in 2016 to $457B by 2020, attaining a Compound Annual Growth Rate (CAGR) of 28.5%.
- Discrete Manufacturing, Transportation and Logistics, and Utilities will lead all industries in IoT spending by 2020, averaging $40B each.
- Bain predicts B2B IoT segments will generate more than $300B annually by 2020, including about $85B in the industrial sector.
- Internet Of Things Market To Reach $267B By 2020 according to Boston Consulting Group.
Click the image to read the full article.
Writing for Forbes, Louis Columbus reviews the marketplace for IoT in his December 2017 article, "2017 Roundup of Internet of Things Forecasts".
He shares the following statistics in his article:
- Global IoT market will grow from $157B in 2016 to $457B by 2020, attaining a Compound Annual Growth Rate (CAGR) of 28.5%.
- Discrete Manufacturing, Transportation and Logistics, and Utilities will lead all industries in IoT spending by 2020, averaging $40B each.
- Bain predicts B2B IoT segments will generate more than $300B annually by 2020, including about $85B in the industrial sector.
- Internet Of Things Market To Reach $267B By 2020 according to Boston Consulting Group.
Click the image to read the full article.
Creating a successful Internet of Things data marketplace
In the McKinsey and Company article from October 2016, the author focus on how data from IoT applications will be monetized. From the ...
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In the McKinsey and Company article from October 2016, the author focus on how data from IoT applications will be monetized. From the article: "Digital marketplaces are platforms that connect providers and consumers of data sets and data streams, ensuring high quality, consistency, and security. The data suppliers authorize the marketplace to license their information on their behalf following defined terms and conditions. Consumers can play a dual role by providing data back to the marketplace".
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Opting in: Using IoT connectivity to drive differentiation (IoT in Insurance)
In Deloitte's article "Opting in: Using IoT connectivity to drive differentiation, the authors take a look at the innovation created by ...
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In Deloitte's article "Opting in: Using IoT connectivity to drive differentiation, the authors take a look at the innovation created by using IoT in the insurance industry. From the article, "This case study of insurance innovation and its unintended consequences may be a precursor to the next generation of digital connectivity in the industry. Today, the availability of unlimited new sources of data that can be exploited in real time is radically altering how consumers and businesses interact. And the suite of technologies known as the Internet of Things (IoT) is accelerating the experimentation of Progressive and other financial services companies. With the IoT’s exponential growth, the ways in which citizens engage with their cars, homes, and bodies are getting smarter each day, and they expect the businesses they patronize to keep up with this evolution. Insurance, an industry generally recognized for its conservatism, is no exception."
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Inside the Internet of Things (IoT)
In an interesting article on Deloitte Insights from August 2015, Jonathan Holdowsky, Monika Mahto, Michael E. Raynor, Mark Cotteleer write ...
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In an interesting article on Deloitte Insights from August 2015, Jonathan Holdowsky, Monika Mahto, Michael E. Raynor, Mark Cotteleer write about the technology that makes the IoT world possible. From the article, "The business implications of the IoT are explored in an ongoing series of Deloitte reports. These articles examine the IoT’s impact on strategy, customer value, analytics, security, and a wide variety of specific applications. Yet just as a good chef should have some understanding of how the stove works, managers hoping to embed IoT-enabled capabilities in their strategies are well served to gain a general understanding of the technologies themselves."
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Case Study: Learning from Software - Leading Global SaaS Company
Industry: Technology 25 Annual revenues: $20–50 billion Issue: A leading software company had built its name on selling ...
Annual revenues: $20–50 billion
Issue: A leading software company had built its name on selling software directly to companies for their ownership and use on premise, making money with yearly upgrades adding new features. However, the company faced decreasing sales of its on-premise software portfolio, and executives saw the existing business model as running out of steam: Customers would no longer want to pay for incremental upgrades, and the products were thought to be “good enough” already. One approach for the company would have been to admit that the business was low- to no-growth and accept a small, steady revenue stream. Another was to transform it into a growth business.
Solution: The company looked to test whether the business could be turned into a high-growth venture and decided to transition to a flexible consumption model to ride the tide of business model innovation already present in the market. The company thus rolled out cloud-based versions for the majority of its portfolio and set up a subscription model under which to sell these versions. Rather than selling a stand-alone box of software to a customer, the company was able to offer continuing subscriptions to an ever-changing catalog of software. This gave customers the benefit of always having the most up-to-date software, and the company the benefit of having a growing source of new revenue.
Impact: With the majority of the portfolio transitioning to subscription and the growth of the new subscription business, the company has since become one of the most successful SaaS providers in the space.
">Industry: Technology25
Annual revenues: $20–50 billion
Issue: A leading software company had built its name on selling software directly to companies for their ownership and use on premise, making money with yearly upgrades adding new features. However, the company faced decreasing sales of its on-premise software portfolio, and executives saw the existing business model as running out of steam: Customers would no longer want to pay for incremental upgrades, and the products were thought to be “good enough” already. One approach for the company would have been to admit that the business was low- to no-growth and accept a small, steady revenue stream. Another was to transform it into a growth business.
Solution: The company looked to test whether the business could be turned into a high-growth venture and decided to transition to a flexible consumption model to ride the tide of business model innovation already present in the market. The company thus rolled out cloud-based versions for the majority of its portfolio and set up a subscription model under which to sell these versions. Rather than selling a stand-alone box of software to a customer, the company was able to offer continuing subscriptions to an ever-changing catalog of software. This gave customers the benefit of always having the most up-to-date software, and the company the benefit of having a growing source of new revenue.
Impact: With the majority of the portfolio transitioning to subscription and the growth of the new subscription business, the company has since become one of the most successful SaaS providers in the space.
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