skip to main content
Close Icon We use cookies to improve your website experience.  To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy.  By continuing to use the website, you consent to our use of cookies.
Global Search Configuration

Introduction

This report draws on Ovum’s unique expertise to provide an objective overview of IoT and the very different applications of IoT technology in different industries.

Highlights

  • IoT helps the transformation to a customer-adaptive enterprise.
  • Significant barriers to IoT deployment persist.
  • Manufacturing offers the most compelling prospects; education the least.

Features and Benefits

  • Discusses the current hype and reality of IoT.
  • Assesses the opportunity for IoT in a number of different industries.

Key questions answered

  • What is the hype and reality of IoT?
  • What are the opportunities for IoT in different industries?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

IoT is poorly understood and misrepresented

  • Our simplified IoT technology stack cuts through the hype
  • Systems integrators will play a significant role in the first phase of IoT rollout
  • Industrial IoT will develop much faster than smart home
  • From Networks of Things to the Internet of Things

Technological changes and customer demands drive IoT proliferation

  • Falling costs push industrial sensing on the road to ubiquity
  • The smart home market could be tipped for growth
  • IoT helps the transformation to a customer-adaptive enterprise

Significant barriers to IoT deployment persist

  • Security breaches present a significant problem to enterprises
  • IoT and privacy make poor bedfellows
  • Data becomes a critical asset and must be well managed
  • Cultural barriers must be overcome

The IoT opportunities in different industries

  • Manufacturing offers the most compelling prospects
  • Manufacturing
  • Insurance
  • Utilities
  • Healthcare
  • Government
  • Oil & gas
  • Telecoms
  • Retail payments
  • Media and broadcast
  • Higher education

Manufacturing is a future hotbed for IoT deployment

  • IoT is billed as the next big thing in manufacturing
  • The benefits of IoT in manufacturing are many
  • Despite IoT's attraction, many barriers hamper mass deployment

Insurance

  • The insurance sector is an early adopter of IoT
  • IoT offers insurers a platform for new propositions development
  • Some vendors have established an early lead in IoT-based services for the insurance sector

Utilities get smarter with IoT

  • The utilities industry has used connected devices for decades
  • IoT is at the heart of utilities' digital transformation
  • Opportunities abound in the utilities industry, but not for all

IoT is an essential piece of the healthcare transformation puzzle

  • Mind the gap: silos have restricted medical device usefulness
  • Long-term healthcare transformation requires dynamic monitoring; analytics is the linchpin
  • Reaping the benefits and avoiding the pitfalls: security, safety, standards ... and sensibility
  • Healthcare IoT will drive technology mash-ups, vendor collaboration, and disruption

Smart city projects persist in silos

  • Governments are connecting devices with public services
  • IoT adoption is confined to smart cities, but presents wider opportunities
  • Data sharing is the elephant in the room
  • Public sector organizations must make plans to build IoT into future services

Oil & gas is fertile ground for IoT adoption

  • IoT adoption is low, but the future looks positive
  • Cultural and technical barriers must be overcome
  • The IoT can enable crucial process improvements
  • IoT complexity currently favors large vendors

IoT on the inside will support telco digital transformation

  • Telcos have long used connected devices to monitor operations
  • Sensing and controls will underpin telcos' digital infrastructure
  • IoT extends telcos' customer value propositions
  • The future opportunity

The push to remove frictions will drive IoT in payments

  • Payments, for the most part, still rely on human intervention
  • IoT is the next stage of mobile wallet evolution
  • Privacy concerns may limit initial growth, but the market is wide open

IoT is an unnecessary distraction for the media and broadcast industry

  • There has been very little use of IoT in the media and broadcast industry
  • IoT can provide context for more accurate and multi-user recommendations
  • Wearables can improve customer experience at outdoor events

True IoT is yet to make a significant impact in higher education

  • IoT has not yet hit the mainstream in higher education
  • If done properly, IoT data will personalize and enhance the student experience
  • The long-term future of IoT in higher education is not yet clear

Appendix

  • Methodology
  • Lead author
  • Contributors

Recommended Articles

  • Internet of Things

    IoT Viewpoints 2018

    IoT Viewpoints explore the IoT opportunity in 2018 and beyond. Download our latest e-book to get our newest collection of thought leadership articles on the emerging IoT trends, technologies and opportunities.

    Topics IoT

  • Consumer & Entertainment Services

    US pay TV: Is it facing an existential threat?

    By Adam Thomas 28 Mar 2018

    With US pay TV having endured the worst year in its history, thoughts have inevitably turned to the future. The likelihood remains that the immediate future will remain highly uncomfortable for everyone except the scaled multinational digital platforms.

  • Enterprise Services

    5G: Another technology in search of enterprise use cases

    By Evan Kirchheimer 26 Apr 2018

    Service provider interest in justifying 5G investment through its potential to open new revenue streams from the enterprise segment is growing ever greater.

;

Have any questions? Speak to a Specialist

Europe, Middle East & Africa team - +44 (0) 207 017 7700


Asia-Pacific team - +61 (0)3 960 16700

US team - +1 646 957 8878

Email us at ClientServices@ovum.com

You can also contact your named/allocated Client Services Executive using their direct dial.
PR enquiries - Call us at +44 788 597 5160 or email us at pr@ovum.com

Contact marketing - 
marketingdepartment@ovum.com

Already an Ovum client? Login to the Knowledge Center now