Perspective: How the IoT will impact consumers, businesses, and governments in 2016 and beyond

By John Greenough, for Business Insider

May 10, 2017

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For more than two years, BI Intelligence has closely tracked the growth of the IoT. Specifically, we've analyzed how the IoT ecosystem enables entities (i.e. consumers, businesses, and governments) to connect to, and control, their IoT devices in 16 environments, including manufacturing, the connected home, transportation, and agriculture.

In a new report from BI Intelligence, we discuss all of the components of the IoT ecosystem, including these key points:

  • Businesses will be the top adopter of IoT solutions. They see three ways the IoT can improve their bottom line by 1) lowering operating costs; 2) increasing productivity; and 3) expanding to new markets or developing new product offerings.
  • Governments are focused on increasing productivity, decreasing costs, and improving their citizens’ quality of life. We forecast they will be the second-largest adopters of IoT ecosystems.
  • Consumers will lag behind businesses and governments in IoT adoption. Still, they will purchase a massive number of devices and invest a significant amount of money in IoT ecosystems.

Read the full story.

 

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