The blogosphere and media are replete with postings and articles about how the IoT/IoE will transform and automate everyday life. Lots of “someday my prince will come.” But, few real princes on white horses have yet to arrive.
So, instead of “IoE Fantasy Island,” our Decisyon Blog focuses on what is real, today. We’ll point you to transformations that are actually being implemented. And, how they might help you think through your company’s IoE strategy.
First, in “Industrial Internet Applications: cases and experiences,” Taneli Tikka states that there are three stages of IoT/IoE implementation:
Pioneers, innovators and early adapters that have been developing Industrial Internet applications for the past ten years;
Companies that started trials and testing of an application within the last three years;
Companies that have not begun any kind of implementation.
The article discusses some of the early-adopting industries, such as safety, welding manufacturing, and automobile device monitoring.
Next is a comprehensive study recently published by TATA Consultancy Services, “Internet of Things: The Complete Re-imaginative Force TCS Global Trend Study,” that explores the four regions of the world that are leading IoT adoption and the 13 industries most impacted. Additionally, the study profiles case studies from GE, HP, Intel and PTC.
A sidebar in the report I particularly liked was, How the Internet of Things Changes Business Models – stating, “The Internet of Things is already creating new business models (think of a consumer’s remote ordering of detergent with the Amazon Dash Button, and aircraft engines that send alerts when maintenance is due)." Their study asked executives to indicate which of four possible changes in their companies’ business models had been made to date as a result of their IoT initiatives, and which they expect will occur by the year 2020:
Much greater leasing of products (not just selling them outright – that is, shifting to ‘product-as-a-service’ model);
Increasing service business (support and repair) because product usage by customers can now be monitored;
Making money from customer product usage data (for example, selling it to third parties);
Bypassing entities in the distribution channel and resupplying end customers directly.
You can download the report here.
I recently joined the IMC’s IoT M2M Council that provides business cases for IoE. Their IoE Content Library offers a collection of in-depth case studies for IoT and M2M deployments, spanning the broadest possible range of vertical market applications and geographies. The Use Cases typically include critical information concerning ROI, Total Cost of Ownership, enhanced revenue streams, and other tangible outcomes of deployments wherever possible, organized by vertical market categories.
You can join for free here.