Carl Ford on IoT Market Opportunity
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Transcript of Carl Ford on IoT Market Opportunity
![Page 1: Carl Ford on IoT Market Opportunity](https://reader035.fdocuments.in/reader035/viewer/2022062904/5887de651a28abfb678b5ff7/html5/thumbnails/1.jpg)
The IoT ElephantHow Huge is Huge!
CARL FORD, CEO CROSSFIRE MEDIAPRODUCER DEVCON5 & IOT EVOLUTION
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Simple Agenda
• A Guided Tour of IoT
• Why Companies Use IoT
• A Survey Of IoT Users
• How to Get Involved
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IoT Over Hyped or Under ‘Huged’ ?
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The Blind are Leading
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IoT One With Everything
$19 Tby
2020!
50 Bby
2020!
This is the largest growth in the history of humans,” says Bryzek known as “the father of sensors”.
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Senior Citizen Wearables
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IoT Works For Me!
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Smart Home
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Shared As A Service
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Shared As A Service
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IOT Vertical Markets
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IOT Verticals
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Industrial Internet
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2% Solution
Reality CheckThis represents 90% of the $17
T Forecast
Includes; Manufacturing,
3D Printing,
Industrial IoT
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BIG DATA & ANALYTICS$266 B
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BIG DATA IS HUGE
2003 2005 2015 20200
5
10
15
20
25
30
35
Population (Billion) Connected Devices (Billion)
4 ZB
44 ZB
Source: IDC 2015
We Are Out Numbered
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Perspective on Big Data1 Trillion Drops of Water
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Enterprises use IoT for:– Compliance
– Healthcare HIPPA– Trucking elogs– Cold Chain / Food Safety
– Efficiency– Industrial – Field Reporting– Surveillance
– Profit– Jet Engines sold by thrust.– Point of Use Distribution– Shared Assets
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Survey Results
James Brehm surveyed our audiences to learn where they are in IoT deployment. • Over 100 different companies participated
• 61% had already deployed an IoT Solution only 10% had nothing planned
• Two to One B2B vs. B2C
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65% 32%
Survey Respondent Profile
14
31%
22%
How many employees are in thecompany you work for?
<1010 - 49 14%
50 - 499 18%500 - 999 6%
1K - 5K 9%5K+
Research12%
ProductManagement
10%
Marketing9%
Sales / BusinessDevelopment
18%
Executive21%
Student2%
System Integrator4%
Other8%
Architect8% Business
Operations3%
BusinessData Analyst Stakeholder
2% 2%
What isyourPRIMARYrole in yourcompany’sIoTprojects?
22%
Many Years Of 1 - 2 Years OfIoT Experience IoT Experience
<1 Year Of IoTExperience
8%
Limited IoTExperience
4%No IoT
Experience
How long have you been working onIoT projects?
34%
Employee-Executive
39%
25%Employee -Individual
Contributor17%
Consultant
13%Other6%
What is your job function?Employee
–Manager
17%
12%
5%
EMEA
AP
LatinAmerica
Geographic LocationNorth
America
n=130
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Improve A BusinessProcess
Why Are Companies Working on IoT?
3
20%
60%
11%
12%
Reduce Costs
Grow The Business
Keep Up WithCompetitors
Regulation &Compliance
What is the purpose of your company’s IoTprojects?
24%
2
60%of Companies working on IoT to
Grow Revenue & Profits
n=122
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45% Home Security
5
39%
38%
36%36%
35%
34%
29%
29%
28%
EnergyManagement
Asset TrackingBuilding
AutomationFleet
ManagementConnected Car
HomeAutomationAgriculture
Smart Meters
Business Security& Surveillance
27%27%
24%
22%21%
20%
19%
17%
15%12%
11%
RetailSecurity /Defense
Digital Signage
Natural ResourceMonitoring
Vending
Fitness / Wellness
DronesUsage BasedInsurance
Other
What IoT ApplicationsAre Being Developed & Deployed?
What use case / industry does yourcompany’s IoT solution address?
IndustrialMonitoring
Healthcare 45% Wearables
Nearly½ working on Healthcare &Industrial Monitoring Applications
4
More than 1/3 working on Telematics
n=113
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Perceived Challenges
7
64%
51%
27%
22%
31%
44%
14%
16%
14%
Interoperability
Hardware Integration
Network Connectivity
Cost
Can’t Prove the ROI
Data Storage & Analysis
Maintenance
Other
What are the barriers to growth of IoT?
Security
Security: Proliferation of connected devices creates newchallenges for physical & cyber security
Interoperability & Hardware Integration:Notruly intelligent systems if things can’t communicate with each
other. Need focus on Ease of Use
Barriers address the need for industry standards
Can’t ProveThe ROI: Need strong business casedevelopment to forecast incremental revenues & cost savings
Cost: Up-front & recurring costs can scare off potentialbuyers
Need to get past the hype and focus on how IoT benefitsthe bottom line
Network Connectivity,Maintenance,& DataAnalysis rank lower on the list of barriers to growth but callcontribute to the complexity that is IoT
n=108
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Connectivity for IoT
8
44% 41%
25%19% 19%
11%
Wi-FiCellular Bluetooth Ethernet ZigbeeSatellite LPWA Other
What types of connectivity for yourcompany's IoT Solutions?74%
69% 70%+Using Wi-Fi or Cellular for IoT
~40%Using Bluetooth or Ethernet
<25%Zigbee, Satellite, LPWA, Other
n=108
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10%
Measuring IoT Success
9
37%
Goals but noquantifiablemetrics or
KPIs23%
Goal is tolearn &
improve IoTexpertise23%
How does your company measure the success ofIoT projects?
Other6%
We do notmeasure
success ofIoT projects Quantifiable
Metrics& KPIs
<40%of Companies have quantifiable
metrics & KPIs to measure success
n=107
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12
41%
22%
23%
15%
Capture, analyze, store, & makeinformed & timely decisions on data
Capture & store some data but don'tdo any analysis
Analyze data in real-time to makedecisions
Don’t captureor store any data
Maximizing The Value From DataWhat does your company do with data from IoT?
22%Not DoingAny DataAnalysis
Only41%Making Informed &Timely
Decisions on Data
n=102
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13
Significantlyimprove52%
No Impact13%
Nice tohave but
not critical35%
Maximizing The Value From DataWould better analytics improve the ROI of yourIOT project?
87%Link Improved
DataAnalytics toIncreased ROI
n=102
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Summary Results
15
Top IoT ApplicationsIndustrial MonitoringHealthcareEnergy ManagementAssetTrackingBuildingAutomationFleet ManagementConnected Car
45%45%39%38%36%36%35%
73%Of respondentsat companies
currently active in IoT
60%Of companies working on
IoT to GrowRevenue & Profits
68%Of companies working on
B2B IoT Solutions
<40%of Companies have
quantifiable metrics & KPIsto measure IoT success
70%+UsingWi-Fi or Cellular
For Connectivity
CompaniesPerceivedAsIoT Leaders
Challenges to Growth in IoT
SecurityInteroperabilityCan’t Prove the ROICostHardware IntegrationConnectivity
64%51%44%31%27%22%
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Parting Thoughts• Pareto Paradox
– 80% of the Huge Noise about IOT will be Consumer driven– 80% of the Huge Value will be in the Enterprise
• Download my Whitepaper:Connected Home & Building Market Forecast: http://www.connectedhomecon.com/west/
• Download the surveyhttp://www.iotevolutionexpo.com/west/iot-industry-report.aspx
• Reach out to me [email protected]