Published on 11/25/2016 | Market Sizing
The IoT continued its toddler-like growth and stumbles in 2016. Here are five trends to look for in 2017 as the IoT enters its adolescence and how to benefit from them.
Previously these were nice in-the-future concerns; now they will really count. Filling out a whole product value proposition through partnerships has repeatedly proven its importance across B2B and enterprise software sectors. In the IoT, they will be even more critical.
As an example, the Industrial Internet Consortium (IIC) is driving the definition of platforms and test beds and should show results in 2017. In the meantime, expect some IoT companies to fail when they can’t gain traction.
If you’re developing IoT infrastructure or platforms, it’s time to get real, regarding building great partnerships, developer programs, tools, incentives and joint marketing programs. Without them, your platform may appear like an empty shopping mall.
If you’re a device manufacturer or application developer, it’s time to place your platform bets so you can focus your resources. If you’re implementing IoT-based systems, you’ve been through this before. Welcome to the next round of the industry’s favorite game, “choose your platform.” Make sure you also evaluate vendors based on their financial health, business models and customer service — not just technology. Learn more in Monetizing IoT: Show me the Money in the section “Ecosystems as the driver of value.”
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