The IoT solutions marketplace is crowded and confusing, but companies with mature IoT capabilities are generating new, recurring revenue streams through efficient connected product development and delivery. Keep up with these 6 steps for IoT success.
Powerful Google developer tools for immediate impact! (2023-24 C)
Mature connections: 6 stages to IoT success
1. A business model to drive IoT success
through connected capabilities
Mature connections:
6 stages to IoT success
01
2. 02
Overview: Why IoT matters
1 IHS Markit
2 https://www.vxchnge.com/blog/iot-statistics
3 McKinsey Global Institute
4 A guide to the Internet of Things, Intel inc.
There will be 125 billion connected devices by 20301
90% of cars will be
connected to the
Internet by 20202
By 2025, global IoT
technology market will
rise to US$6.2 trillion3
IoT market value for
healthcare US$2.5
trillion, manufacturing
US$2.3 trillion4
3. 03
Where are companies investing*
in IoT technology?
invest in Business and
Manufacturing processes.
This includes supply chains, robotic
machinery and other industrial
equipment. Real time analysis of the
data collected from these operations
improves their workflows, machine
safety and bottom line.
invest in IoT Healthcare
technologies. This could
include anything from portable
medical equipment, data
management, and safeguards
for the distribution, sale,
and manufacturing
of pharmaceuticals.
invest in Retail applications.
Consumers can use smartphone
apps to purchase products and
the company can track and
analyse their purchasing data.
IoT is also instrumental in
efficient inventory management.
invest in IoT Security innovations.
Companies with highly sensitive
materials can utilise biometric locks
or facial recognition technology.
Smart locks with remote sensors
and linked security systems offer a
higher level of security than
traditional alarm systems.
40.2%
7.7%
8.3%
30.3%
*A guide to the Internet of Things, Intel inc.
4. IoT market trends
• New 5G & NB-IoT capabilities shift demand for
cellular activity
• Emerging biometrics sensing technologies
provide more convenient and stronger security
• Cloud & XaaS driving new business models and
cost efficiencies
• Artificial Intelligence drives Google dominance
in digital assistant market
04
5. The road to IoT success
• IoT solutions marketplace is crowded and
confusing but companies with mature IoT
capabilities are generating new, recurring
revenue streams through efficient connected-
product development and delivery.
• But getting there is a process of change,
both technically and tactically.
05
7. Stage #1:
Planning for IoT
Determine what capabilities you
will need to design, deliver and
service the new product(s).
Basic enablement:
• Network connectivity, security,
cloud services, app development
and device management.
Requirement:
• Embedded software, network
communications, device
protocols, real-time processing,
security, web services and
data management.
07
8. Stage #2:
Cloud, sensors
& devices
Connected products/services
generate revenue stream, use less
fixed capital to deliver higher
margins determine what capabilities
you will need to design, deliver and
service the new product(s).
Basic enablement:
• IoT solutions are resilient to
change and applications
leverage device proliferation
Requirement:
• Robust network connectivity
(cellular/Internet/satellite) to
enterprise server to process
data transmission
08
9. Stage #3:
Remote monitoring,
delivery & repair
Connected products/services
generate revenue stream, use
less fixed capital to deliver
higher margins
Basic enablement:
• Secure and scalable platform
to process machine data IoT
apps to deliver remote services
Requirement:
• App development platform with
suite of tools to monitor and
manage content remotely
• Flexible APIs
09
10. Stage #4:
Real-time performance
& behaviour analysis
Analysing data to provide insights
and improve business functions
Basic enablement:
• IoT platform with built-in
analytics capability
• Dashboard tools to monitor
actionable insights from IoT data
Requirement:
• Organising and storing
processed data
• Formatting data for
easy analysis
10
11. Stage #5:
Business process
optimisation
Integrating IoT data with enterprise
systems (CRM/PLM/ERP) to
optimise business processes
Basic enablement:
• Secure IoT platform framework
to feed captured IoT data
transmission directly into
CRM/ERP/PLM systems
Requirement:
• Availability and capture of
IoT data for integration
• Combine IoT machine
data with other source
data to extract value
11
12. Stage #6:
Business innovation
& customer loyalty
Reinvent customer experiences through
smart connected IoT devices
Basic enablement:
• IoT platform to build immersive
customer experiences
Requirement:
• Custom application development
• Retrieve technical data streams
(telemetry) from IoT connected devices
12
13. Next steps…
• Streamline transformation process
• Reduce resource requirements
• Shorten time-to-benefit
13
14. 14
From building your own micro-services in
your sector to horizontal turnkey solutions,
Singtel’s secure and reliable network helps
you harness the full potential of IoT.
We can help resolve resource and
operational challenges, increase
productivity and drive business growth
with IoT solutions for your industry.
Partner with Singtel for
your IoT implementation
15. END
Chat with us to learn how we can help turn your IoT initiative into a success.