It’s clear that companies are keen to capitalise on the IoT opportunity. This should be no surprise given the drum-roll of multiple billions of connected devices from different analyst firms. What holds companies back is their relatively incomplete grasp of:
- how the market will develop along different dimensions,
- where the innovative commercial opportunities are crystallizing,
- and, what strategic initiatives will help companies to position themselves to capitalize on market opportunities (as distinct from worrying about where the next tranche of connected device sales will come from).
Just like the countryside below our strategist on top of the hill, it’s useful to think of the IoT map in terms of a cube to illustrate three avenues of growth.