Anand Gijare is a Founder and Chief Editor at CXOguide. CXOguide is a well thought mission to provide information which is a stepping stone and a rich source of industry intelligence and a guide for sales and marketing teams to prepare sales pitch, webinar contents and seminar speeches and also, it can help in designing exhibits and stalls at the event. Visit us at www.cxoguide.com for more details or send email to email@example.com
IoT Marketing Trends 2018
What most surprised you in these findings? Why?
The most surprising finding within the IoT marketing trends was an increasing shift in marketing strategy from operational excellence to end-user or customer excellence.
Companies are looking for IoT enabled automation to leverage their real-time customer experience.
Companies need marketing solutions that will communicate with their employees as well as consumers on real-time basis and thus investments in these sectors will grow in 2018. Most of the investments will be on pilot projects and some may lead to full-fledged deployments in 2019.
Which industries are the leading buyers of IoT? Why is that?
Industries such as retail, cargo and fleet management, automotive and manufacturing are promising investors in IoT during 2018. Healthcare, utility, consumer electronics and home automation will fall in mid-segment investors. The upcoming buyers of IoT will be hospitality, equipment rental service providers, digital promotion agencies, commercial buildings and offices, and oil & gas exploration and mining industries.
Technology developments such as such as improved wireless connectivity, location tracking, advanced automation technologies, digital payments, increased mobile applications, and mobility, business needs and customer retention are the key reasons why these companies are aggressively buying IoT based solutions.
Any surprises in terms of industries lagging with digital transformation?
The Oil & Gas exploration and Mining sector is coming strongly ahead for the investments in digital transformation. The digital transformation was inevitable in the Oil & Gas Exploration and Mining sector to gain new operational efficiencies and create a productive workplace on the background of increasing shortage of workers, competition, stricter regulations and increasing demands for oil and extracts/ores.
The Oil & Gas exploration and Mining sector are today accepting new generation connectivity and technologies such as cloud computing, use of big data, machine learning and IoT.
How can you benchmark this report against past studies? What trends do you see in doing so?
Each day there are several speculations rising and falling regarding the benefits of the IoT and the number of things that will be connected over the Internet by 2020. It has become vital for all the stakeholders in the industry to really get to the basics and bring-out where the markets for IoT ever stand.
You can observe that big players in strategic consulting are getting their numbers down, the high value forecasts of trillions of dollars are fallen to billions and in some cases to millions. Now the question is does anyone have real numbers. The frank answer is no one…
You have to understand the fact that IoT industry is facing various challenges including no standard definition (which makes any technology or application or product that connects to the Internet claim for IoT), no standardization (leading to monopolistic approach or vendor lock-in) and too many players of small to large capacity.
CXOguide provides practical view-points based on past purchase portfolios of IoT in various industry sectors, regions and applications. While estimating the revenue projections we have taken utmost care to keep them close to reality (past investment scenarios) and estimate projections in a different way. We found this method of projections quite practical and close to reality.
With this report, what have you learned about motivations to purchase / use IoT-enabled applications?
IoT is still a new and evolving concept for many from supply and purchase sides of the business. And therefore understanding about the concept for both types of stakeholder is more or less on similar grounds. And it will take time to gauge the full potential of IoT applications.
This is why; we will see more of experiments rather than actual implementations on a broader scale. The industry is in an experimental phase with newer companies of small to large scale from various sectors worldwide will plan executing pilot or restricted IoT projects during 2018.
Therefore, in 2018 most of the investments will be based at the level of application rather than going for all-inclusive deployments. For example, automation will become a key application area for many industrial sectors whether they are small scale or have multi-national operations. Automation for many is a known area and therefore both IoT vendors and purchasers are able to visualize the broader picture of the outcomes and benefits of IoT-enabled automation quite clearly.
In 2018, investments in easy to measure and quick to assess applications will be quite high. These will include Automation, Leveraging Customer Experience, Location Tracking, Targeted Promotions, Alerts and such other applications.