Beecham Research Latest IoT Platform Insights
Robin Duke-Woolley, the CEO of Beecham Research, presents at APP-SOLUTELY IoT 2017 on IoT Platform Insights.
Robin Duke-Woolley, CEO of Beecham Research, gives some insight on the evolution of the IoT platform market. Currently, there are 450 IoT platforms, which has been increasing exponentially since about 2005. According to Robin, all of these platforms are becoming increasingly sophisticated and specialized which just adds to the confusion of the marketplace. As well, it seems there won’t be any rationalizations anytime soon, tossing aside the idea of what would be a 3 to 4 platform market in only 5 years’ time. That simply is not the case according to this research because it is very difficult to consolidate all of these platforms and can take quite some time to do so. This makes things increasingly difficult for purchasers due to the multitude of options. A user must choose a platform before they are able to reach a solution and build that into their organization.
It is important to see the differences between where M2M was and IoT is now. The chart presented shows how and where IoT touches every market. It shows 9 key sectors of the market and the devices that would fall into those categories. The difference between the M2M and IoT aspects of this chart is that M2M usually has one application in the process, whereas the IoT aspect covers data from many markets and places and converges them into a solution.
It has more of an umbrella understanding, such as a smart city, smart vehicles, or smart farming. You aren’t just looking at the machine and one type of data, but you are looking at the environment that it is working in as well. The emphasis here is in the sharing of data.
What is required in the market is to encourage faster decision making regarding IoT platform choice? If you can make a faster decision, then you can get onto finding a solution more quickly.
One size does not fit all. There are many different requirements, and there will need to be many platforms to meet those specific needs. Decisions are taking a lot of time when it comes to adopters, especially since it won’t be cost effective to have to switch later on. This means they must get it right the first time which can be a daunting and difficult task.
Robin speaks on 4 initiatives he and partners are working on to help with these issues. The first is IoT Pilot, an online tool with platform information. The next is an ‘IMC RFP Process,’ providing important questions to ask regarding this decision. Next is an ‘Adopter Platform Selection Service’ which is tailored for more complex organizations to find 1 or 2 platforms that have the best fit. And the last is a ‘Vendor Roadmap,’ that uses techniques from the Adopter Platform Selection process to recommend areas of potential improvement for a particular platform.
These are all examples of what Robin and Beecham Research believes is required in the market to achieve faster and more accurate decision making when it comes to incorporating IoT platforms.
Robin Duke-Woolley, CEO of Beecham Research,