IoT projects are proliferating across verticals and geographies, despite the reduced level of promotion and discussion among vendors. Customers, and therefore vendors, are focused on solutions, and IoT is a class of solutions, not a solution itself. Customers understand the broad concepts of IoT and are concentrating on using those concepts to solve specific problems. Vendors are addressing the market through vertically oriented products or vertically focused sales structures as well as technical and channel relationships with vertically oriented partners.
Though there are common use cases, they largely lack common vendors or offerings. TBR believes that the IoT market is continuing to evolve toward a large number of specialized offerings, increasingly self-contained as bundles and moving toward stand-alone solutions requiring less configuration and integration. Turnkey solutions and a market where buyers and sellers of specialized IoT solutions can easily connect are a long way off, however.
TBR’s semiannual Commercial IoT Market Landscape delivers overall market and top vertical insights, including identifying key use cases as well as trends in technology and buyer behavior. The landscape also captures the top public deals within those verticals and the lead vendors associated with them. Contact an account executive for more information.