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IoT is on track to realize predictions

May 15, 2017

IoT is on track to realize predictions

The opportunities lie within the products you're already selling

The total market for Internet of Things (IoT) is expected to be over $1 trillion by 2020. Gartner predicts that by 2020, 26 billion devices will be connected to the internet. With the promise of all that IoT can help us realize by connecting the physical and digital worlds—from connected dishwashers to healthcare devices—is IoT on track to meet those predictions? And where can you look to identify new opportunities now? The low-hanging fruit may just be a customer call away.

Predictions influencing IoT adoption

According to Tommy Mac, Ingram Micro’s senior technology consultant, IoT is moving in the right direction to meet most predictions. In the consumer space, the more we know about ourselves and service providers know about you, the better they can position their services. For example, Amazon’s employing IoT in its Amazon Go stores to eliminate queues at the checkout. And vehicle manufacturers like BMW, Tesla and Volvo are investing heavily in the space of self-driving cars. Here are other examples of the connected consumer.

In an industrial setting, predicting when something may fail due to data generated by sensors, data points across locations can be aggregated, and cloud computing, artificial intelligence and machine learning can be used to predict and maintain the supply chain and output. If you’re a Twizzlers lover, Hershey used IoT to save $500,000 for every 1% of improved efficiency in making your favorite treat. And they didn’t hire a data scientist.

Market opportunities

Tommy Mac says that the greatest opportunities are solutions that leverage real-time location services in facilities management, which spans across multiple verticals that you may be serving today, including:

  • Transportation and logistics
  • Government and SLED
  • High tech and industrial production
  • Utilities and telcos
  • Manufacturing

While the transportation and logistics industry is a leader, retail is very close behind due to the impact and adoption rate in that space. Opportunities in consumer and industrial IoT ecosystems will be vast and plentiful for those who understand that the connected world is the future of how technology will be consumed. Those forward thinkers can enable today’s analytics to deliver tomorrow’s outcomes.

Where you can start

The low-hanging fruit is connectivity and IoT is about scale, so look to wireless, where client devices can communicate at the edge. Think of IoT gateways and the digitization of sensors up to gateway and then to the data center or cloud. It’s built on the existing data center infrastructure you’re likely selling today.