It’s been exciting to see the Internet of Things (IoT) evolve over the past few years, going from buzzword to business game-changer – and in the process, reshaping the Internet as we know it. Thanks to the IoT, the Internet has evolved into a real-time conduit of copious amounts of data that enterprises can analyze to improve decision making, enhance performance and increase profits. But, the path to IoT hasn’t been an easy one.
Throughout the past decade, IoT has faced its fair share of barriers to widespread adoption. These roadblocks included a lack of standards and interoperability, an absence of key supporting technologies and highly fragmented market structures. For instance, in the first wave of the Internet, enterprise vendors developed horizontal offerings for a few well-defined, technology-focused buying centers.
Yet, IoT, with its many diverse markets, has shifted the paradigm to operational technology and lines of business as key buying centers, seeking solutions and services that drive business outcomes.
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