The IoT is a deceptively simple concept – collect data from remote devices in the field, process it centrally as part of an application, then distribute to whoever needs the data, potentially in real time. In practice, though, it is not so simple because there are an almost unlimited number of different IoT applications in the market, with many new and ingenious ones being devised all the time. There are also vast numbers of remote devices that could usefully be connected if someone could work out the value in doing so. There almost always is a value, but it may not be obvious.
Why do businesses want to connect their remote devices in the first place? Certainly, it may have something to do with making operational cost savings, or to create new service revenues around their remote devices, or maybe just to assist in complying with new regulations. Essentially, though, there will be an underlying need to do things differently, to differentiate their offering in the market. This is the factor that adds uniqueness, and therefore complexity.
For IoT vendors, the IoT market is growing quickly but also attracting new entrants all the time. Just one statistic – the number of IoT platforms available in the market is now well over 500 when only a few years ago there were less than 50. Nor is this number likely to decline any time soon. Instead, smaller platforms and companies are being acquired by larger companies to strengthen the platform’s position in the market. In all of this, differentiation and uniqueness are key to successfully competing in the market.
Beecham Research has been researching, analysing and providing consulting support in the IoT market for nearly 20 years. The vast majority of our work is client-specific projects and these range right across the whole value chain – from hardware (components, modules, terminals), through all types of revenue-generating connectivity (cellular, satellite, etc.) and connectivity providers (MNOs, MVNOs, etc.) to all types of IoT platform, to system integration, service provision and to enterprise users. For each of these projects, differentiation for our clients and a focus on specific detail relevant to them is always of central importance. General market data is not usually helpful or of interest.
It is with these requirements in mind that our IoT Briefing Service is designed to support. This draws on our base of information that we are continually updating and using in our client projects. Such information must accurately reflect what is actually happening in the market, it must be in-depth and able to be adapted for specific needs.
As a result, our approach to the IoT market is focused more on depth than breadth. Depth means we explore the IoT market in detail in key areas. Areas that we know are important to get right in the market – key building blocks. Breadth is then important for putting different parts of the market into context. More detail on this service is available at: firstname.lastname@example.org.