Matt Turck at FirstMark recently wrote a wonderful post that outlined the CURRENT IOT LANDSCAPE (Glassbeam mentioned under Analytics) and the reasons for the somewhat slow growth of the marketplace despite all the surrounding hype.
While we agree that lack of standards and security considerations continue to impede the growth of IoT, we believe that there are powerful countervailing forces that are actually accelerating adoption. The most powerful is the ‘catching up’ dynamic – where a market leader emerges in a vertical – from an IoT adoption standpoint – and start accruing numerous financial and non-tangible benefits by being the early adopter. These benefits soon start becoming effective competitive differentiation for the company and soon the rest of the industry finds itself being out-prices and out-maneuvered by the leader. Soon the late adopters and laggards are playing catchup to the leader and this manifests itself in rapid IoT adoption across the entire vertical.
At GLASSBEAM, we’re noticing adoption across almost every industrial IoT segment – Storage, Data Center, Wireless Networking, Medical Devices, Cleantech and a lot more. While predictive maintenance in a recurring theme, the need to understand the install base well (the ‘PM use case’ as we call it here) is also a regular IoT use case.