More than half of respondents said they have used an opex or “as-aservice” mode of purchasing IoT infrastructure and applications, while a similar 51 percent claim to have opted for a capex approach to purchasing. Also of note, 33 percent of respondents said they have opted for an “outcome-based” approach to at least part of their IoT initiatives, paying IoT providers based on the delivery of successful business outcomes. Challenges & Opportunities Among the many opportunities up and down the IoT value chain, a few areas stand out, both in terms of their compatibility with the existing specialties of the network and communications services channel as well as the primary challenges faced by IoT buyers. Namely, those include interoperability/integration, cybersecurity and managing connectivity. While the IoT ecosystem is forming rapidly, as of now IoT platform providers tend to draw the demarcation line at where their services and devices end and an organization’s internal operations start. Buyers have had to fend for themselves or turn to the providers of their other internal systems to add-on and integrate in ways that deliver intended business outcomes. “[T]he IoT industry hasn’t achieved a genuinely seamless experience in which devices pass into and out of physical environments and are identified, trusted and managed without a need for separate (and at times manual) authentication steps,” said analysts in McKinsey & Company’s IoT practice. Much of the value of an IoT deployment, all the while, comes from the ability to provide that seamless experience, argued McKinsey analysts. Various devices must communicate through heterogenous operating systems, networks and platforms, often through cloudbased data storage and cloud-native programming, thereby empowering constant information exchange with a high level of autonomy. “Imagine the ability to drop a new device into a network and have it immediately scanned, welcomed, and assigned a trust score,” said McKinsey. We’re not there yet, leaving ample areas of opportunity for trusted providers that can help with effortless integration within and across tech stacks of devices; grease processes with sign-in efforts, self-managed devices and over-the-air patch updates; and simultaneously leverage multiple connectivity standards, platforms and back-end systems. “The ability to develop seamless experiences will likely spur further MOBILE & WIRELESS Source: TD SYNNEX st Source: 451 Research; S&P Global Market Intelligence Which of the following, if any, are compelling reasons to deploy SaaS loT applications? Please select all that apply IoT Sentiments, % of Respondents 27% 25% 43 billion th: -7.1% 45 billion th: -2.6% 79 billion th: 11.1% 24 billion th: -2.8% 17 billion th: -0.1% 33 billion wth: 5.5% 423 billion wth: 0.9% 506 billion th: -7.1% 67.83 Easier/faster to deploy, manage and update We use SaaS applications successfully in other parts of our business Meets our needs without providing more functionality than we require Appreciate subscription purchasing - save money/cuts costs A partner or customer suggested/mandated we use the application We lack the developer headcount/skills to build our own applications 57% 49% 48% 38% 30% 25% Source: IDC Worldwide IoT Spending Guide, 2023 forecast Top IoT Industries Based on Market Share 37.9% 9.4% 10.0% 21.2% 13.3% 8.1% Discrete Manufacturing Retail Others Process Manufacturing Professional Services Utilities Providers Buyers 31 61 38 1 57 12 Importance of digital trust in loT systems Importance of privacy in loT systems Critical Important Not considered Critical Important Not considered Average Increase in IoT Spending if Cybersecurity Risk is Managed, By Use Case Healthcare 53% Mobility and transportation 33% Smart cities 31% Oil and gas 31% Utilities 25% Manufacturing and industrial 24% Smart homes 23% Retail 20% Smart offices 20% Logistics 13% Source: McKinsey & Co. 34 CHANNELVISION | SEPTEMBER - OCTOBER 2023
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