- Moumita Deb Choudhury
Bengaluru: The Internet of Things (IoT) has hit an inflection point in the minds of business executives across the globe. Aided by real-world examples of what it can achieve, IoT is showing strong gains from across a range of markets. The story from here to 2019 is clear: IoT is moving from good to great, a recent study by Aruba states.
This clearly indicates a way forward for partners. “I view this as that first step that a partner would take to see that IoT opportunity is real and that they need to understand which areas of opportunity are going to be most impactful to their business — looking at industries, solutions and use cases,” Channel Partners quoted Chris Kozup, vice president marketing at Aruba, as saying. “I think IoT is the next big opportunity for partners and they need to begin building a practice, but they need to do it wisely because the IoT domain is vast,” he added.
Expectations of IoT are sky-high, but the Aruba study has revealed that those who implement IoT in the right way have found their expectations surpassed. In fact 88 percent of respondents already report a return on financial investment. It seems IoT is good for business efficiency, innovation and profitability.
A McKinsey study also reveals that the Internet-of-Things offers a potential economic impact of $4 trillion to $11 trillion a year in 2025. Though till date, channel has not played a major role in the IoT domain, but if the research figures are to be considered, channel has a big role to play in the coming days.
The Aruba study also highlights that 84 percent respondents have experienced an IoT-related security breach.
As businesses will start connecting more and more devices to the network, there will be a rise in the demand for assistance to tackle data breaches. The magnitude of complexity in IoT projects is sometimes beyond control of the enterprises themselves.
This further creates opportunities for managed services provider (MSPs), VARs and System Integrators and the entire channel ecosystem to act as a trusted advisor and offer resolution to the breaches and at the same time build profitable revenue models.