Unleashing the power of IoT and Edge technologies for business transformation

With the potential to bridge gaps between the physical world of devices, networks, communication channels, and data, the Internet of Things (IoT) is spurring transformation across industries. Moreover, the convergence of IoT with technologies like blockchain, artificial intelligence (AI), 5G, cloud, and edge computing is opening doors for enhanced data collection and processing, with minimized latency. In a smart, digital world, where disruptive technologies are the fuel that drives revolutionary innovation, IoT remains at the forefront of enabling organizations to unlock new levels of productivity, efficiency, and automation. Failure to embrace this revolution could leave businesses at a significant disadvantage, impeding their ability to remain competitive, adapt to changing industry dynamics, and unlock the full potential of data-driven insights.

• How do you plan to identify and integrate the right set of disruptive technologies to thrive through this transformation?

• Are your teams aligned to execute your long-term IoT vision through agile strategic planning?

• What is the role of digital transformation and how will this impact investors, product lines, customers, and growth strategies in your industry?

• How will you implement industry best practices in this sector?

The accelerated permeation of connected devices into various industries consequentially spurs a seismic shift in the IoT provider landscape. Gone are the days when customers were solely interested in standalone IoT devices. This implies that simply offering hardware or basic connectivity is no longer sufficient. Businesses and consumers of the future seek all-inclusive solutions that seamlessly integrate hardware, software, connectivity, and data management capabilities into holistic, end-to-end offerings. Now, to truly meet the evolving needs of customers, IoT providers must revaluate traditional network and hardware-based services and product portfolios through the lens of customization and flexibility.

• How will you navigate internal and external growth challenges in this sector to accelerate innovation?

• What collaborative strategies and ecosystem partnerships should you consider to better serve customers?

• How do you plan to incorporate customized solutions into your IoT portfolio to embrace customer-centricity?

• How are business models evolving in this sector, and what strategies will you use to capitalize on these?

• Do you have a structured framework to identify the most promising growth opportunities in IoT and Edge?

Frost & Sullivan has six decades of experience in connecting global mega trends, emerging technologies, and new business models to drive radical growth. We help companies identify, evaluate, and prioritize best-fit opportunities that empower them to thrive through change. Let us guide you through your transformation journey by working collaboratively with the ecosystem community of companies in the IoT and Edge continuum, leveraging our Growth Council Think Tanks.