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Harvard Business Review, with the sponsorship of Verizon, just published a new report on IoT. This time the focus is on big data strategy.

The report shows that most companies are taking a largely ad hoc approach to big data today, according to a September 2016 survey of 306 business leaders conducted by Harvard Business Review Analytic Services. Nearly half of respondents said they pursue big data initiatives on a per-project basis, with just 18 percent saying they have an enterprise big data strategy and approach. Some findings:

  • 44% aim to use IoT to transform their business model.
  • 78% are acting on only a limited amount of IoT data—or aren’t using any at all.
  • 42% say lack of skills/capabilities is preventing them from acting on more big data.
  • 51% are struggling with big data variety and complexity.
  • 78% say that new networking technologies are important to their big data strategies.

Many of the other findings in the report are pretty dour, but also notes that business leaders have high hopes for IoT technology and that their expectations for the business benefits of IoT implementation are significant. Still worth a read. 

Get the full report here

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In a new update to the Worldwide Semiannual Internet of Things Spending Guide, the International Data Corporation (IDC) forecasts that U.S. organizations will invest more than $232 billion in Internet of Things (IoT) hardware, software, services, and connectivity this year. And IDC expects U.S. IoT revenues will experience a compound annual growth rate (CAGR) of 16.1% over the 2015-2019 forecast period, reaching more than $357 billion in 2019.

The industries leading the way in U.S. IoT investments are Manufacturing and Transportation at $35.5 billion and $24.9 billion, respectively, in 2016. However, Cross-Industry investment, which represents use cases common to all industries, will approach $31 billion this year. The IoT use cases receiving the greatest levels of investment from U.S. organizations across these three industry segments are:

  • Manufacturing Operations, which supports digitally-executed manufacturing, or how manufacturers use intelligent and interconnected I/O (input output) tools – e.g. sensors, actuators, drives, vision/video equipment etc. – to enable the different components in the manufacturing field – e.g. machine tools, robots, conveyor belts etc.– to autonomously exchange information, trigger actions and control each other independently.
  • Freight Monitoring, which uses radio frequency identification (RFID), global positioning system (GPS), GPRS, and GIS technologies to create an intelligent, Internet-connected transportation system. This system carries out the intelligent recognition, location, tracking and monitoring of freight and cargo through exchanging information and real-time communications via wireless, satellite or other channels.
  • Smart Buildings, which utilize advanced automation and integration to measure, monitor, control, and optimize building operations and maintenance. The key concept is optimization – meaning the deployment of a set of integrated control systems capable of adapting in real time to both internal policies and external signals. These systems manage how building equipment operates to use energy in the most efficient and cost-effective way.

Looking across all U.S. industries, these three IoT use cases will receive the greatest levels of investment throughout IDC's forecast. The next three largest IoT use cases in terms of U.S. revenue will be Remote Health Management, Smart Grid (Electricity), and Smart Home. The IoT use cases that will experience the greatest revenue growth in the U.S. over the 2015-2019 forecast period are In-Store Contextualized Marketing, Connected Vehicles, and Insurance Telematics.

"A use case represents a detailed composition of a technology investment that is made to produce a set of end user benefits," said Marcus Torchia, research manager, IoT for IDC's Customer Insights and Analysisteam. "The long term opportunity for IoT vendors is helping to identify and create immediate and residual benefits for end users through their technologies. We see strong opportunities across many industries. For example, in highly instrumented verticals like manufacturing and transportation, large data sets are used to optimize operational processes and extend the life of high capital cost assets. In other sectors like healthcare and consumer, IoT technology is being used to produce benefits that improve quality of life."

While Manufacturing and Transportation will lead the U.S. in terms of overall IoT investments, the Insurance, Retail, and Healthcare industries will see IoT spending levels increasing by 135%, 101%, and 96%, respectively, over the forecast period. In addition to driving some of the largest IoT investments, the Cross Industry segment will also see revenue growth of more than 100% through 2019.

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The Next Frontier for Developers: IoT

Development for the Internet of Things has grown substantially over the past 12 months according to the newly released Global Developer Population and Demographics Study from Evans Data Corp.  

The number of developers currently working on IoT applications has increased 34% since last year to just over 6.2 million today. In addition, the increase of development for mobile devices, up 14% since last year, has led to smartphones being the most commonly connected IoT platform.  

The study, which combines the industry’s most exhaustive developer population model with the results of Evans Data’s biannual Global Development Survey also provides fresh population data for the four major regions: North America, APAC, EMEA, and Latin America and for more than 40 countries. Population numbers for adoption of the hottest tech areas are also included.  

“We're seeing how in the space of just a year, the possibilities introduced by the Internet of Things has attracted many developers.” said Michael Rasalan, Director of Research for Evans Data Corp.“This transition to IoT, while not without barriers, is rapid, because developers are able to leverage existing knowledge and expertise in complementary technologies like cloud and mobile, to create entirely new use cases. We're also seeing developers branch out from concepts centered on wearables to applications for more complex tasks, seen in the industrial space.”  

For the general developer population, estimates and projections for growth to 2021 show APAC leading the pack with nine hundred thousand more developers than EMEA. Growth in India and China are predicted to keep APAC’s population the highest globally for the next several years.  

The full report can be found here.

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