Analyst Insight: The double-digit growth of the ecommerce channel is indisputable; yet, it's still only 6 percent of total U.S. retail spend. Amazon may seem like it's the 600-lb. gorilla, but it may just be Humpty Dumpty sitting on a wall. Omnichannel is certainly getting its share of hype. We believe connected consumer commerce will be a competitive mandate for bricks and mortar retailers. Are you ready for the disruptive changes to the rules of the game? – Rich Sherman, author and founder at Gold & Domas Research
A new market analysis by ABI Research finds that the revenues from integrating, storing, analyzing and presenting Internet of Things (IoT) data will reach 5.7bn in 2015. In the next 5 years, the market will expand dramatically, to an extent that in 2020 it is estimated to account for nearly one-third of all big data and analytics revenues.
Until recently, China's internet economy was consumer driven. The country leads the world in the number of internet users, and Chinese enterprises deploy sophisticated e-commerce strategies. The same companies, though, have lagged behind the United States and other developed nations in using the internet to run key aspects of their businesses. That's changing.
Innovations such as robotics and automation have paved the way for more efficient, productive and intelligent industrial operations. And with these technological advancements comes the increasingly pervasive Internet of Things (IoT), which delivers increased data and sharing communication that Microsoft estimates could lead to $90bn in added value for manufacturers annually.
Market forecasts from ABI Research show that the revenues from the Internet of Things (IoT) application enablement platform (AEP)s grew by 28 percent in 2014. By end-2020, the revenue base will exceed $1.4bn, led by applications for remote monitoring and control.
When we talk about the Internet of Things, most people think about the flood of wearables and connected devices that will be put into the hands of the consumers. This same trend, though, has the potential to transform, in good ways, supply chain management.
The Internet of Things has intelligence distributed throughout many integrated layers. Algorithms and analytics are needed to make sense of the raw data. Often this intelligence needs to reside on the edge of the network close to the source of the data near the "things" comprising the IoT.
Twenty percent of American adults already own a wearable device and the adoption rate - on par with tablets in 2012 - is quickly expected to rise, according to PwC's Consumer Intelligence Series-The Wearable Future report, an extensive U.S. research project that surveyed 1,000 consumers, wearable technology influencers and business executives, as well as monitored social media chatter, to explore the technology's impact on society and business.
Imagine if an enterprise in the United States was able to access vital product line information of a subsidiary plant in India or a crank shaft supplier being able to locate its component in an automobile across the globe or a machine being to self-assemble at the end destination. Technology advancements over the last decade have paved the way for all of the above situations to be executed in repeatable fashion.
Just as the use of the word "cloud" exploded in the late 2000s, we have seen the term "Internet of Things" (IoT) appearing everywhere during the past couple of years. It seems as though everyone is jumping on the bandwagon. Can one make sense of this phenomenon?