Mind Commerce Identifies Opportunities for Software in Internet of Things (IoT)

Industry: Telecommunications

Sees substantial growth through 2020 for software in platforms, APIs, applications, controlling systems, security solutions, management and operations.

Minneapolis, Minnesota (PRUnderground) December 12th, 2015

While much of the attention focused on the Internet of Things (IoT) has been on communications, networks, and communications service providers, little emphasis has been placed on its impact on software and the OEM ecosystem.  Mind Commerce sees a substantial opportunity with software accounting for $347B USD by 2020, representing 23% of total IoT revenue at that time.

The IoT Software Market and OEM Ecosystem: Opportunities, Challenges, and Forecast 2015 – 2020 report identifies opportunities for software in IoT including Other Equipment Manufacturers (OEM) providers.  The report places great attention on the software OEM ecosystem as we anticipate that most of the products for both hardware and software in IoT will be OEM.  This means IoT software will be built to integrate/embed into infrastructure, device, product and/or service or to extend an IoT enabled product/service portfolio.

IoT_SoftwareOEM_2015-2020_Dec2015.jpgThe market for IoT is at present broadly categorized as Consumer (Human) IoT and Industrial (Machine) IoT. Mind Commerce sees software in IoT playing a key role in both markets.  However, the bulk of revenues will be associated with the high growth IIoT area, driven by various initiatives such as Smart Manufacturing, Smart Cities, and Enterprise Automation.

Also known as Personal Internet of Things (PIoT) consumer IoT represents the overall systems (devices, sensors, communications, etc.) and related solutions, applications, and services that pertain to IoT directly used by and/or for the direct benefit of human beings.  This is distinguished by IoT in general wherein a person may not be directly involved.  Industrial IoT (IIoT) is a prime example wherein IoT may be employed strictly between machines, equipment, and/or other assets and centralized control and administration.

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Mind Commerce is your trusted source for research and strategic analysis focused on digital technologies and the telecommunications industry. Our reports provide key trends, projections, and in-depth analysis for infrastructure, platforms, devices, applications, services, emerging business models and opportunities.

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