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IoT is continuously evolving and expanding in terms of the number of companies, products, and applications that illustrate just how beneficial it is becoming for organisations, people, and governments. Some companies like IBM Watson have led the way and are instantly recognisable. Waiting in the wings are several smaller IoT companies that are not yet popular but their solutions are capable in enhancing performance of companies and quality of life of people. However, there are still multiple flaws even in the best solution available. Apart from that, there are huge numbers of problems that need an IoT solution immediately.
David Brown, Senior Analyst at Researchica, speaking on the state of innovation in IoT said, "IoT market is nascent and currently available solutions are being offered by service providers to just encash the early adopters. These solutions are being launched keeping in mind speed of delivery and low cost. These are basic IoT solutions with a lot of scope for innovation and use case planning."
Researchica in its study found that IoT service providers are lacking badly on robust security, interoperability of IoT systems, real-time communication, reliable connectivity, efficient charging, and longevity of IoT devices. These are not the complete list of flaws of current IoT systems; numerous other flaws are being recognised frequently that need equal attention if the IoT market has to evolve.
According to our study, in the next 15 years, 50% of businesses would become obsolete due to automation in which role of IoT would be significant. So, there's definitely a big need for use case innovation among existing solutions as well as across untouched segments. Now it's certain that IoT solutions are ready to revolutionise the way businesses operate and governments function. Digitised processes, products and services create a new level of efficiency and enable completely new business opportunities. Companies need to follow these trends in order to stay competitive and thrive in their respective markets.
While large companies generally have sufficient human, financial and development resources to build ideal IoT solutions, small companies with limited resources find it difficult to create customised IoT solutions. Nevertheless, both types of companies face a plethora of choices of external innovation from building corporate ventures to using company builders all the way to accelerators.
This Research attempts to guide companies to find not only a fitting model of innovation but furthermore to help navigate the options for innovation in the highly complex world of IoT. After minutely analysing all the pressing issues of IoT, Researchers have gone deep into decoding possibilities, analysing innovative solutions, gathering right advice and recommendations for key stakeholders of IoT market. Researchica has also proposed models of Innovation for industrial, civil, and consumer markets within the limitations of available resources.
Unique Attributes
1. Worldwide IoT Innovation Matrix by segment.
2. What are the most critical issues faced by companies that develop new IoT based services and by companies adopting IoT into their processes?
3. Proposed models of Innovation within the limitations of available resources.
4. Unique strategies that IoT players can employ to infuse IoT innovation in their organisation.
Questions Answered by the Report
1. What are various breakthrough IoT use-case innovations? What is their scope and importance?
2. What are the various innovative use-cases currently under development phase?
3. What is Innovation-Assimilation model?
4. What should be ideal strategy for small companies to ensure timely adoption of IoT? What are various economical yet highly effective options?
5. What are the major innovation challenges across industrial, civil, and consumer markets?
Companies Mentioned in the Report
Adeunis RF, Advantech, Altair Semiconductors, ARM Holdings, Atmel, Bluegiga, Broadcom, Cypress, Cypress Semiconductor, Dialog Semiconductor, Digi International, Espressif Systems, Fibocom, GainSpan, Gemalto, GreenPeak Technologies, Huawei, Ingenu, Intel, Laird Technologies, Lantronix, Linear Technology, Marvell Technology Group, Mediatek, Microchip, Murata, Neoway Technology, Nordic Semiconductor, Novatel Wireless, NWave Technologies, NXP Semiconductors, Qualcomm, Quectel, Radiocrafts, Redpine Signals, Renesas, Samsung Electronics, SemTech, Sequans Communications, Sierra Wireless, Sigma Designs, Silex Technology, Silicon Labs, SIMcom Wireless Solutions, STMicroelectronics, Telit Communications, Texas Instruments, Toshiba Semiconductors, U-blox, ZTE.
Target Audience:
IoT Players, Chip Manufacturers, Sensor Manufacturers, Battery Manufacturers, Semiconductor Companies, IoT Platform Providers, IoT Device Manufacturers, Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and OEM Technology Solution Providers, Research Organisations, Technology Standard Organisations, Forums, Alliances and Associations, Technology Investors, Governments, Financial Institutions, and Investment Communities, Analysts and Strategic Business Planners.