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The Internet of Things and Digital Transformation: A Tale of Four Industries

Industries are realizing the advantages of the Internet of Things and digital transformation at different speeds and on different scales. IDC reveals how.

The Internet of Things (IoT) is poised for rapid growth across a wide variety of industries that are connecting physical assets. Companies are ramping up their IoT investments rapidly, which can be seen in seven major industries with high levels of physical products or assets. And overall, market research indicates that IoT spending will increase 19% on average through 2018.

According to analysts, there are no sign of IoT adoption slowing down anytime soon. In fact, approximately 30% of all industry leaders will be disrupted by digitally enabled competitors by 2018. Meanwhile, a little more than half (58%) of organizations worldwide see the IoT as strategic to their business – and another 24% of organizations view the IoT as a transformational business opportunity.

While some industries, such as discrete manufacturing, have already invested significantly, others, such as healthcare, have spent less to date but are expected to expand quickly in the future.

In this white paper, IDC takes a closer look at four industries – retail, consumer products, discrete manufacturing, and healthcare – and how their IoT maturity is impacting how they operate and serve their customers now and plan for the future.

Tags:

Digital Transformation, IoT strategy, digital business, internet of Tin