How companies can choose the right business model for their IoT solution

Apr 30, 2018   |   Sunil Tahilramani, Product Manager Lead - Azure IoT

The Internet of Things is poised to connect some 25 billion users by 2020, ten times the amount of people connected today.

In the 1990s, the first wave of internet development connected about a billion users to the Internet, primarily via desktop. In the 2000s, we had the second wave, which connected about 2-3 billion people to the Internet via mobile devices. These seismic shifts reverberated across industry and culture, offering rare opportunities for businesses to reinvent how they share and consume data, create products, deliver services, and interact with customers.

The Internet of Things (IoT) is the third wave, connecting potentially any aspect of the physical world – from wearable devices to home appliances to industrial manufacturing to mass and personal transportation. IoT provides companies the ability to track, respond to, predict, and optimize for customer behavior in new ways that can give businesses a distinct advantage over the competition. But not all companies know how to leverage the power of innovative IoT connectivity in their business strategies—and they’re missing out.

Organizations that want to stay competitive must adapt or move on from business models that don’t make the most of IoT solutions. Business leaders must have a clear understanding of what impact IoT can have on their business – whether by reducing costs, generating new revenue streams, or delivering better services to customers. The first step is to assess whether they’re using the right business models.

No one wants to be the last person to embrace new technology. Our e-book describes the ways IoT can give businesses like yours a leg up. We identify six business models that you can pair with IoT technology to boost revenue, efficiency, and customer satisfaction.

Learn more and read our e-book to see how IoT is transforming business.

Read the free e-book.

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