In my last blog post I emphasised that the numbers tell us IoT has moved beyond the hype and is delivering value in various business contexts. Still, it is fairly clear that significant challenges remain in order for IoT to deliver on hopes and expectations. Numbers from several studies show that a majority of IoT deployments fail to some extent and many get stuck in pilot projects. According to GSMA, most IoT deployments consist of less than 500 devices. There are a number of reasons for this disappointing development but through continuous analysis we are getting wiser and wiser about the causes and are addressing them – one by one!
Working closely with our partners and customers, we repeatedly reach the conclusion that these projects often lack strategic thought and priority. Through the years we have preached the need for strategic analysis of both vision and purpose, as well as overall value creation context when bringing IoT ideas to market. We have also advocated the need for an ecosystem view and partner support because few, if any, companies are capable of creating, launching, and operating end-to-end IoT solutions by themselves.