Internet of Things

Standardized IoT solutions reach SMEs

The Internet of Things is seeing increasing use in small and medium enterprises – thanks to modular solutions that are slowly but surely displacing the individual products from the early years.

24 Feb. 2017
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According to the latest eco-trend report, so-called IoT platforms are allowing the German economy to participate more quickly in the Internet of Things. 74% of the experts surveyed believe that this could allow domestic German companies to stand on their own against major US Internet companies. The winners include startups in particular, whom the market apparently offers good chances of success in the B2B sector. "IoT platforms are becoming indispensable for SMEs," says Dr. Bettina Horster, IoT Director at eco, about the results. Small and medium-sized enterprises apparently also benefit from comprehensive offerings with safety standards that tend to be higher than those of self-made solutions. Implementation also takes place faster while complexity is reduced. "Invoicing via licensing models makes costs calculable," continues Horster. When it comes to selecting the appropriate platform, eco advises, among other things, to take market position and reference customers into consideration. Other important aspects to consider are which standards are supported and where the data is stored.

Many studies have consistently attributed superior market potential to The Internet of Things. The only thing they don’t agree on is the extent of said potential. McKinsey, for example, considers it possible that the intelligent networking of devices and machines could generate a total of around 23 billion euros in Germany in 2020. The electronics distributor RS Components even expects a total of 50 billion euros.

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