IoT Platforms: Restoring flexibility and regaining control over IoT costs
The IoT landscape is continuously expanding, but an increasing number of industrial companies are facing new challenges with their digitalized products and services. Rising IoT costs and the lack of flexibility in first-generation IoT solutions are among these hurdles. The good news is that these shortcomings can be overcome sustainably.
By Alexandra Luchtai
The year 2023 is characterized by the consolidation of the IoT market. IoT platforms such as those offered by Google, IBM, or SAP are being discontinued, leading many to wonder, “Is the hype around the Internet of Things already over?” From our perspective, it is not. Instead, a development is emerging in the way we approach the technology, as confirmed by an article in the German Computerwoche. The focus of value creation has shifted from IoT platforms to IoT applications. Specifically, this means that providers need to have a broad technological foundation on one hand to integrate all the necessary and newly emerging features into their platforms and process data effectively. On the other hand, they also need to be capable of providing individual advice on the potential opportunities and business prospects in various user industries, determining what can be achieved through IoT and cloud technologies, and ultimately making economic sense. Some providers have already successfully embarked on this delicate balancing act.
However, many companies have first-generation IoT solutions and are now facing challenges. Are you too?
Learn more on the blog of our IoT specialist Device Insight:
