internet of things- how revenue is driven
TRANSCRIPT
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References:http://www.forbes.com/sites/louiscolumbus/2015/07/28/where-internet-of-things-initiatives-are-driving-revenue-now/
http://www.forbes.com/sites/gilpress/2014/08/22/internet-of-things-by-the-numbers-market-estimates-and-forecasts/
http://www.consultancy.uk/news/2415/embracing-internet-of-things-boosts-revenue-growthhttp://www.gartner.com/newsroom/id/2684616http://gadgets.ndtv.com/internet/news/internet-of-things-could-drive-750-900-million-revenue-from-east-india-724715
http://www.eweek.com/small-business/internet-of-things-revenue-to-hit-7.1-trillion-in-2020.html
http://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/internet-of-things-grand-challenge-workshop-key-findings.html
http://www.idc.com/downloads/idc_market_in_a_minute_iot_infographic.pdf
%Popularity of
Application ofIoT
IoT &Revenues
2015 $2712 billion2017 $3782 billion2019 $5649 billion2020 $7065 billion
IoT79% 40%45%
The Internet of Things is the latest “big” thing in the world of computing. While everyone is keen to join the bandwagon, and the technology promises
wonders, companies still have their tasks cut out on how todrive revenues from this new technology.
According to research firm IDC, “Internet of Things (IoT) is a networkof networks of uniquely identifiable endpoints-things that
communicate without human interaction using IPconnectivity, be it locally or globally.”
Enterprises have taken to IoT in a big way. The TCS Global Trend Study 2015 – Internet of Things: The Complete Reimaginative Force reveals:
Presently, companies use IoTin the following ways
IoT is in its boom phase and promises to provide windfall gains for stakeholders.
Research major Gartner estimates IoT product and service suppliers to generate incremental revenue exceeding $300 billion by 2020.
Globally, enterprises expect IoT initiatives to increase revenue by 16.3%, on average between 2015 and 2018. For North American companies,the average revenue gain is projected at 18.1% on average.
A report by PriceWaterhouseCoopers and Confederation of Indian Industries, West Bengal, estimates companies operating in IoT space to generate $750-900 million from east India alone. The overall IoT
industry in India is estimated to bearound $15 billion by 2020.
The projected increase in revenue (on average) from now to 2020, for specific industries, at a global level, are:
Research firm IDC forecasts that the worldwide market for IoT solutions to touch the following figures:
enterprises already have IoT initiatives in place to under-stand customers better, espe-cially the products they buy,
and the locations they buy
enterprises use IoT technologies to monitor
production and distribution operations.
enterprises use IoT to grow their service
business
The Internet of ThingsHow revenue is driven
Through mobile apps in smart-phones,tablets,
and other mobile devices: 46.5% of
companies
To track product flow to customers, in production &
distribution: 44.9% of compa-
nies
By embedding digital sensors in products, and receiving data from such sensors
pertaining to perfor-mance of the product: 25.5% of companies
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IndustrialManufacturing
27.1% 19.4%
High techindustries
18.9%
Banking &financial services
Media &entertainment
16.5% 15.6%
Travel, transportation &
hospitality
15.3%
Telecommunications
15.1%
Insurance
14.6%
Energy
Consumer goods(packed)
14.5% 13.9%
Utilities
13.3%
Retail Automotive
12.3% 12.3%
Healthcare &life sciences
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