A Market Strategies study identifies diverging points of view between two emerging groups of consumers and workers in the IoT market
There’s little doubt that the Internet of Things (IoT) is one of the most exciting and profitable sectors in technology today. IDC is predicting that global spend in IoT will reach a stunning $1.2 trillion by 2020—a figure that represents a compound annual growth rate of 15.6%. A recent Forbes Insights study even found that senior executives now see the IoT as the most important set of emerging technologies.
But the IoT market is also a competitive one. Companies in virtually all industries are now eager to join the IoT gold rush. Thriving in this emerging but lucrative market will require a deeper understanding of what consumers truly need, want and might adopt, whether for use in a personal or work context.
A new study from the technology division of Market Strategies International provides insights on US consumers’ and workers’ awareness of and experience with this market. The report, The “Haves” and “Have Nots” Among the Internet of Things, sheds light on how the industry can accelerate growth, and how individual companies can gain a competitive product development advantage in the next decade.
One key finding from the report is the emergence of two distinct segments in the IoT space: those who have experienced IoT technologies at work, and those who haven’t. This divergence in experience between the IoT Haves and the IoT Have Nots isn’t trivial. Our study found that these separate groups hold significantly different points of views—attitudes and behaviors that will impact adoption of IoT tech in the workplace in the near term, as well as impact demand for technological improvements.
The Haves and Have Nots also hold differing and somewhat surprising views on privacy and government regulation—topics that will no doubt shape the technology market in the next decade as billions of Internet-connected devices enter the marketplace.
To learn more, download the report, The “Haves” and “Have Nots” Among the Internet of Things.