Product

Internet of Things: From Buzz to Billions

By | | 2 min read


Summary
From buzz phrase to billion-dollar industry, the Internet of Things (IoT) has evolved products, business practices, and the way that companies and consumers interact with technology. Are you ready?

Initially introduced as a solution for enterprises looking to solve issues with industrial grade switches and gateways, the IoT is rapidly becoming a vast, global system of interrelated devices designed to address economic, environmental and societal challenges.

From smart water solutions that leverage performance sensors to measure water use and quality, to devices that monitor robotic arms on manufacturing floors, the IoT is everywhere. Edge computing and IoT are dictating how enterprises, government agencies, hospitals, plant floors and even farms are doing business.

Accenture forecasts the industrial IoT market will top $123 billion by 2021, and McKinsey predicts the IoT ecosystem will eventually be worth $581 billion for information and communication technology (ICT)-based spending.

Since its introduction, one critical component of the IoT has changed: products no longer exist in isolation. New technologies enable products and services to interact and learn from one another, bringing added complexity to backend infrastructures. As a result, enterprises are looking for a tool (not a toolbox) to help monitor, manage and monetize their IoT investment.

According to a recent consumer survey by CSG, end users are embracing connected devices and IoT technology in their daily lives. The majority of respondents (60%) said the IoT’s greatest appeal is its potential to make their lives easier. And with the rapid growth of the IoT market, new applications are reaching home, office and city environments, making it more important than ever for businesses to ensure optimal application performance.

But there is a strong need for help in solving critical application issues on the edge—problems of great concern to end users. A 2018 survey of U.S. consumers by security firm F-Secure found that 66% of respondents have delayed purchasing IoT home devices due to privacy or security concerns.

Indeed, the IoT revolution is already underway. The question is, are you ready?

Preparing for IoT

The goal for successful IoT deployment is to create the ultimate customer experience for end users. The AppDynamics purpose-built IoT SDK puts enterprises in the driver’s seat. Developers decide when, where and how often data is sent, and the business side determines which KPIs to measure in relation to device type, hardware and firmware version. Sometimes an agent isn’t the answer; smart devices and sensors have CPU, memory and consumption limitations, so being able to control data behavior is a great strength of the AppDynamics IoT SDK.

Not sure if your customers or prospects have an IoT play? Remember, just like every business has become a software business, every business will become an IoT business. Traffic lights, parking meters, irrigation systems, smart buildings, connected banks, factories, railways and bathrooms…believe me, I could go on and on.

Learn how AppDynamics IoT monitoring can help you secure your share of the growing Internet of Things market!