European Internet of Things Market Outlook, 2017
The IoT market continued to witness more new launches, investments and ecosystem partnership news than announcements related to new customer wins/deployment news in 2016. Almost a third of such news were related to a product or service or solution or organisation launch. The next largest group of news, around 20%, is about investment flows, be they related to funds made available to support research and development efforts or committed finances to acquire companies from chips to application technologies. The third largest group of news, just under 20%, is related to ecosystem news as the IoT community seek partnerships and alliance to address the missing gaps such as portfolio reach and joint business case creation.
In turn, such market development in 2016 also reflected the top 3 most active IoT application areas. In 2016, Frost & Sullivan’s forecast of global IoT connections in 2016 were dominated by usage in connected car, smart cities and asset management areas.
The commercialisation of a standardised cellular communications technology (NB-IoT) using licensed spectrum is expected to give an extra boost to IoT momentum in 2017. IoT ecosystem participants anticipate wider adoption because NB-IoT offers a standardised low power wide area network that can help to capture previously untapped segments of the market. Frost & Sullivan expects this to be one of 8 key growth drivers for the IoT sector in 2017; innovation resulting from significant funding in the last 18 months also suggests that the IoT market is poised for another shift in adoption curve.
Looking ahead, if 2016 was a year of healthy market development, 2017 must show revenue successes and clear leadership. IoT applications integrate the consumer into the wider connected system to truly reflect a true intelligent society. Those IoT applications and use cases that touch consumers directly or indirectly have better data and privacy protection. IoT ecosystem stakeholders report profits in their IoT proposition. End-user enterprises deploy IoT technologies as part of their broader digital transformation journeys. Previous R&D innovation efforts succeed in creating new IoT use cases that are also relevant to end-user enterprises.
• 2016 IoT market recap
• New development in IoT application areas
• IoT investment funding areas
• Enterprise attitudes to IoT adoption
• 8 Predictions for IoT in 2017
Key learnings from this outlook report
1. Understand the current landscape of IoT in 2016 in terms of adoption, applications and key market players.
2. Understand the IoT market forecast.
3. Discover what emerging areas are in development in IoT for 2017 and beyond.
4. Learn about current enterprise adoption trends.
5. Understand next steps for IoT market development.