Scribd
Upload
57 views2 pages

Six Forces Driving IoT

The document discusses the six forces driving the Internet of Things (IoT) according to a presentation at the Digital Revolution Summit. These forces include decreasing costs of CPUs, memory and storage enabling big data collection and analytics, proliferation of sensors, decreasing costs of data storage and transmission, emergence of cloud and big data technologies, convergence of information technology and operational technology, and the merging of internet and industrial networks. The IoT represents a huge opportunity for various industries and vendors but also requires understanding operational needs and data management challenges.

Uploaded by

qoriah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
57 views2 pages

Six Forces Driving IoT

The document discusses the six forces driving the Internet of Things (IoT) according to a presentation at the Digital Revolution Summit. These forces include decreasing costs of CPUs, memory and storage enabling big data collection and analytics, proliferation of sensors, decreasing costs of data storage and transmission, emergence of cloud and big data technologies, convergence of information technology and operational technology, and the merging of internet and industrial networks. The IoT represents a huge opportunity for various industries and vendors but also requires understanding operational needs and data management challenges.

Uploaded by

qoriah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Digital Revolution Summit

The Six Forces Driving the


Internet of Things

Advancements in information and


operational technology are driving
the next industrial revolution
At this year’s World Economic Forum in
Davos, founder Klaus Schwab postulated the
idea that we are witnessing no less than the
fourth industrial revolution. IoT is a key part
of this revolution, noted Mohamed Kande,
PwC Global Advisory Leader for Technology,
Media and Telecommunications, as he
wrapped up the Digital Revolution Summit.
In this revolution, technology moves from
being a sector to being a megatrend, kind of
a tidal wave that affects everything in its path.
Kande cautioned, though, that obstacles
remain. Because people will have to trust the
data that the IoT generates, vendors must
ensure cybersecurity.
What else does this tidal wave encompass?
Like the technology and connectivity it
combines, the IoT represents ubiquity – and
immediacy. The last time we saw such a
disruption in both industry and society was in
1995 when cell phones became popular. That
unleashed myriad a new of business models
and industries, and the world is facing that
same kind of disruption now.

For more information


Shahid Ahmed
IoT and Emerging Technology Leader
PwC US
+1 (312) 208-9562
[email protected]
© 2016 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its
member firms, each of which is a separate legal entity. Please see www.pwc.com/structure
for further details. This content is for general information purposes only, and should not be
used as a substitute for consultation with professional advisors. At PwC, our purpose is to
build trust in society and solve important problems. We’re a network of firms in 157
countries with more than 208,000 people who are committed to delivering quality in
assurance, advisory and tax services. Find out more and tell us what matters to you by
visiting us at www.pwc.com.
For vendors, service providers, and others, the opportunity is widespread. Every industry vertical
can benefit from IoT, from the public sector (everything from traffic control to garbage pickup) to
the private sector (logistics, transportation, healthcare). The industry with perhaps the biggest
immediate opportunity is manufacturing, where legacy companies are embedding sensors in
everything from jet engines to oil rigs in order to better monitor devices and extend customer
engagement. Hence, we’ll be hearing more about the industrial I0T.
In addition, the opportunity for vendors is highly differentiated. While being a platform provider
will bring the most value, some vendors will sell products, others will sell services. Others will
aggregate and analyze data. As with many technologies, unexpected capabilities may blossom and
create other opportunities (when PCs were first created, no one expected them to be networked, but
now we take it for granted).
But at the same time, the challenge for vendors tackling the IoT market is also vast. Companies
must also understand the operational element of IoT; that is, how to take the onslaught of data and
tame it, from analysis to monetization. The opportunity is so vast that no one company will be able
to do everything, forcing companies to participate in ecosystems and hone their partnership and
collaboration skills. Beyond the ecosystems, companies will also have to manage customer
expectations, especially around the ownership of data.
Kande identified six simultaneous technological trends within IoT, all of which are combining to
push the IoT market to the tipping point that’s currently driving the market:

The decrease in the cost per CPU memory and storage makes the collection of big data
and subsequent analytics possible.

Devices such as sensors have proliferated, without which IoT opportunities cannot
be realized.

The decreasing cost of megabytes increases the amount of money available for
investment in large processing systems.

Cloud and big data offer elastic repositories for storing and analyzing the onslaught
of data.

The convergence of information technology and operational technology are coming


together to create a new revolution.

The Internet world is colliding with the industrial world to create unprecedented
opportunities.
Kande reiterated that based on the confluence Three Key Points
of these trends, the IoT will have the impact of • With the IoT, we are witnessing the
the cell phone, except for one difference. It’s fourth Industrial Revolution, which
will affect multiple sectors.
potentially bigger.
• Vendors and service providers still
have a lot to learn about how they
can contribute to and benefit from
the IoT; collaboration will be crucial.
• The six technology trends driving IoT
include the decreased cost of memory,
storage, and processing; the increase
in sensors; cloud and big data, and the
convergence of the Internet and
industrial networks.

You might also like