IoT Spurring Growth of Smart Devices

Legacy IT companies have been traditionally slow to identify the growth potential in emerging technologies. As modernization engulfs the whole of IT industry, businesses need to show much lesser resistant to change. There has been a powerful shift towards the business adoption of IoT. The IoT market of US is currently being valued at $9 billion. With the rise of SMBs businesses, it will be interesting to see how big manufacturers of IoT technologies look to accommodate their new customer base.

Techaisle's recent report suggested that adoption of IoT has become more prevalent in SMBs than larger business. With SMBs taking up IoT devices thrice as faster, the mid-maket sector has truly become the melting point for IoT solutions providers. Techaisle CEO Anurag Agrawal mentions, “Broadly speaking, small and midmarket firms recognize IoT’s potential to increase productivity, improve processes and boost revenue.” He further adds, “Midmarket firms, though, which have deployed more productive infrastructure, are much more apt to see this potential than their small-business counterparts. The key point is that when SMBs deploy IoT, they should be quickly ushered into analytics — how the data collected helps them with productivity gains, new revenue sources and process improvements."

Another report by Aruba highlighted some of the key trends shaping up in the IoT industry. The report found out that IoT’s influence in an enterprise environment is slowly on the rise with 72 percent of companies, opting for IoT devices and sensors to make the workplace smart. IoT devices are mostly used for security/surveillance, asset tracking or proactive alerts and remote monitoring purposes. IoT has also been credited for improving the efficiency of IT departments. With the introduction of IoT, 75 percent of companies have increased their profits. IoT in the industrial sector has proved efficient to solve challenges of production control and operation by reducing risk and downtime. In industries, IoT devices are mostly operated as chemical sensors (62 percent) and picking systems (46 percent).

Chris Kozup, vice president marketing at Aruba said, “I view this as that first step that a partner would take to see that IoT opportunity is real and that they need to understand which areas of opportunity are going to be most impactful to their business — looking at industries, solutions and use cases. I think IoT is the next big opportunity for partners and they need to begin building a practice, but they need to do it wisely because the IoT domain is vast.”