IoT analysts: focus, but look for new market opportunities

Analysts and advisors following the Internet of Things (IoT) see many aspects to the sector’s massive underlying growth opportunity. We’ve taken a look at some of the early responses to the Analyst Attitude Survey. In other areas, advisors and analysts had a lot to say about the challenges facing vendors. With IoT, however, the opportunities for both focus and growth seem more striking.
Focus
“Focus on the basics and continue to grow” was the advice of one analyst. Many analysts pointed to the dangerous nature of IoT markets, in which companies can either grow or shrink dramatically. Some analysts pointed to the way established leaders have failed, including Motorola and Blackberry, because of a loss of value and relevance in the changing marketplace.
New market opportunities
Most advisors and analyst describe the risk as an unavoidable consequence of a profound market inflection point, which enables new leaders to emerge. Not only new services but also skillful customer acquisition are critical.
Indeed, big technological innovations opening up many potential new market opportunities. Not only are there a range of positive opportunities with IoT, but also many customers have growing concerns, especially around security.
Digitization has many frontiers for providers. Analysts stressed a range of automation, cognitive computing, digital and cloud opportunities. But the technology itself is not enough: providers must offer improved support and implementation of new technology such as for their clients
Advisors were also eager to point out that IoT means not only new solutions but also the opportunity for providers to win new customers. Different business models, such as services-led premiums, make it easier for clients to test new vendors.
Analysts stressed the opportunity for providers to extending into new vertical markets and new segments, such as using flexible cloud deployments to scale to mid-market businesses.
Finally, both analysts and advisors stressed the opportunity for geographical diversification, with China mentioned specifically as a market opportunity.

To find out more about the Analyst Analyst Survey, take a look at our video.

The above recent article on IoT prompted a rejoinder from Saverio Romeo, Chief Research Officer at Beecham Research and visiting fellow at the Birkbeck Centre for Innovation Management Research at the University of London: Read “IoT is not technology, but vision”.

 

 

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