Internet of Things has crossed the proof-of-value cusp and is recognized by enterprises as a critical element of their business growth strategy. IoT is driving innovation, efficiency, and increasing utility across the value stream for all industries, improving customer experience and enabling development of new products and business models. By examining over 400 IoT uses cases, and evaluating 43 providers on their adoption of IoT services, Avasant’s Internet of Things Services RadarView™ Report unveiled key enterprise IoT trends shaping the market.
Digital Singularity – the point where technological omnipresence and human experience converge, has embedded a realm of global interconnectedness, not just among people, but among connected devices, and between people and devices. A key technology prerequisite that is driving this wave of connectivity and fuelling Industry 4.0 is the Internet of Things (IoT).
Avasant defines Internet of Things as an interconnected system of assets/objects that are equipped with sensors and embedded systems designed to extract information about the devices or their surrounding environment that can then be used for real-time analysis to enable intelligent actions. It is the network of “smart” devices, machines and physical objects that have embedded technologies which allow them to connect to the internet and interact with their physical surroundings and other IoT objects.
Open the full whitepaper for a comprehensive discussion of trends shaping the market such as data-driven business and Industry 4.0 enterprise transformation, enterprises across industries taking IoT use cases to scale production, and more.
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