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.
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
Symbio will be attending 600Minutes Innovation and Product Development in Finland on the 4th of April 2017
Chief Solution Executive, Symbio Finland