How to win the competition in the Internet of Things era

The transformation of enterprises needs to keep up with the pace of development of the times in order to survive better. In the era of Internet of Things, what can enterprises do to get on the tide?

Winning the competition in the ICT business era

With the popularity of the Internet of Things (IoT) and the increasing cost of embedded connectivity and intelligence, companies are now focusing on how to compete in the IoT environment. The new “IoT Business” has surpassed the level of selling connected smart products and new services, and now it is striving to create an attractive experience throughout the product lifecycle. Corporate executives across the electronics industry need to focus on IoT strategies and business models to ensure that these strategies and models can: create more valuable experiences based on the concept of “agents as agents”; collaborate in complex and ever-changing ecosystems, Customers provide these experiences; establish a new business order and implement an IoT strategy within the enterprise.

executive Summary

No invention can bring such a broad and far-reaching impact to society as humans find electricity. When Edison invented the electric light, he said that electricity is the "source of change" and would "make a fundamental change in human life." Indeed, this change is not just as simple as replacing a gas lamp with an electric light. As electricity is commercialized, it has created a huge scale economy for mankind. From the street lamp to the stove, the world's "things" can be operated by connecting with electricity. The commercialization of electricity has spawned countless incredible industries and businesses, making electricity an essential element of people's lives in the 20th century.

Similarly, although the Internet of Things is still in its infancy, it has also ushered in another huge opportunity for change. Linking items to unique IP addresses was done ten years ago, but now, with the commercialization of sensors, processors, and storage, everything is highly intelligent (not just interconnected). Commercial feasibility.

In all walks of life, the Internet of Things can help companies not only sell interconnected smart products and services, but also create an attractive experience throughout the product lifecycle: this is what we call the new IoT business.

In order to explore how companies have succeeded in this new era, we launched a 52-hour IBM IoT Business Jam event in mid-October 2015. This online event has more than 38,000 page views. More than 1,900 registrants from 70 countries participated in the online survey, with more than 1,100 posts. 183 executives participated in the event to discuss the challenges of commercialization of the Internet of Things.

We analyzed the results of the above Jam activities and formed this report. This report explores how companies, especially those in the electronics industry, can develop business model strategies in a qualitative and quantitative manner to create value and realize value in the rapidly changing smart device business. We focused on some of the challenges facing the future and explored three key insights that will guide executives to enhance and transform their capabilities and participate fully in IoT business.

It can be said that some of the greatest inventions are often intangible, such as electricity and the Internet. If IoT business is everywhere and become the norm of business, then the Internet of Things will once again bring earth-shaking changes to the world.

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