Published 26. Oct. 2016

[Report]: Internet of Things: From Vision to Execution

IoT product development challenges existing R&D thinking and enables more impactful product development.
Internet of Things

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Key Report Takeaways:

  • Current IoT projects are mostly led and executed by the IT department. More business involvement is needed to enhance IoT awareness in the corporate level and promote cross-divisional cooperation.
  •  Cultural change is in order for IoT execution in large corporations. Organizations also need to be quicker with new service experimentation and be willing to take more risks.
  • Scalability in IoT technologies is essential in order to keep in pace with change. Lack of industrial standards and security concerns are seen as possible barriers for IoT adoption.
  • Organizations in the manufacturing industry are the most IoT mature, with the frontrunners — which are organizations mostly from Finland, Sweden, and Germany — already experiencing the benefits of a connected world.
  • The retail, consumer goods, financial services, energy, and logistics industries are going to experience IoT next.

“There’s a huge potential in IoT. In the automotive industry alone, the prediction is in 2025, all cars will be connected to a common data network, and by 2035, over 70% of cars will be autonomous. It may sound Utopian today, but even that may be an overcautious estimation.” 

Internet of Things: From Vision to Execution

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Juha Turunen

Chief Solution Executive, Symbio Finland