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TECH SUPPLIER Jun 2018 - Market Perspective - Doc # EMEA42199717

Developing an IoT Ecosystem in Western Europe: Strategies for Partnering

By: Margaret AdamAVP, European Services, Channels and Alliances Ecosystems, Hannah Stubbings, Sabitha MajukumarSenior Research Analyst, Worldwide Insurance Strategies, Marta Muñoz Méndez-VillamilResearch Director, IDC EMEA

Abstract

This IDC Market Perspective analyzes the strong partnering dynamics emerging in the IoT space and outlines some of the key benefits and challenges, and how best to embrace this new IoT partnering trend and begin seeing results from it. The Internet of Things is an area of technology that is having a significant impact on businesses across the board. Within the technology industry, many companies are recognizing its impact and looking to address customer demand with solutions and products. However, the scope for IoT and the number of use cases it presents is extremely large, meaning it can be difficult to begin. Further, the amount of different technologies required to deploy solutions is equally big. Unlike other technologies, IoT leverages multiple different other technologies such as devices, connectivity, software, and analytics. Therefore, strong demand coupled with the vast amount of technologies required to meet it means that companies are recognizing the merits of partnering. Rather than spending significant amounts of time, resources, and money in developing their own IoT solutions (which in some cases could be very difficult), companies are partnering with one another to achieve IoT success more effectively and efficiently.

"IoT deployments are typically complicated with a diverse range of participants. To be successful, IoT requires a new approach to partnering — a more hyperconnected ecosystem of suppliers, services companies, things, and customers," said Margaret Adam, senior program director, IDC's European Channels and Alliances.


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