The IoT and its perspectives
The market of IoT (Internet of Things) is still growing and has not reached its highest maturing phase yet, in terms of technological development, which may allow the entrance of connected devices on new market segments. The GSMA Intelligence, an agency specialized in metric and data analyses, has forecast a value of 1100 billion dollars for this market until 2025.
With the constant growth of the domotic solutions, security and technological innovations and also thanks to the development of connected objects (watches, televisions etc…), the IoT gains new sectors little by little. On cannot help wondering how many have not been touched by this technological tsunami, especially when the cosmetic and even the clothing sector are more and more keen on using it.
According to the Montaigne Institute, in France, the IoT sector may reach its real full potential in the horizon 2025, and has been valued to 74 billion euros, which means 3.6% of the national PIB. A substantial forecast especially for niche markets and startups. This sector has three main purposes :
- enhancing the customer experience
- consumption
- services that are sector-specific ( health, insurance, transport, industry)
When it comes to customer experience, it’s one of the key drivers for new entrants to the IoT market. From artistic creation to experiential marketing, creative and marketing managers are fond of new connected technologies to improve their customer’s experience as part of the buying cycle. In 2018, studies show that customer experience is the number one application in the creation of IoT, accounting for 53% of IoT usage.
Here is a schema of the actors that play a role in the IoT process:
Regarding the customer services, it is one of the reason of the new arrivals on the IoT market. From artistic creation to experiential marketing, the creation and marketing managers are more and more keen on new connected technologies to improve the customer experience which is included in the purchase process. In 2018, the studies show that the customer experience is the first application in the IoT sector, which represents 53% of the sector.
A dynamic which is not about to slow for the next years with the powerful upswing of new needs and niche sectors.
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