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How IoT providers can learn from the cloud

July 31, 2018 / IoT.Business.News

IoT revenue is growing for most players, but frustration remains as growth rates are slower than expected. There is a sense that IoT is failing to deliver against the (extremely high) bar that was set. CloudAn obvious comparison for IoT services is cloud services. The major cloud players have high revenue and are growing quickly (with typical growth rates of over 50% per year). IoT revenue is small and growing (relatively) slowly. Intel, the company that reports the largest IoT revenue, generated USD879 million from IoT in 4Q 2017; AWS earned nearly six times more from its cloud services in the same quarter. IoT adoption is a more fundamental change than the shift to cloud services, but IoT providers should look to learn some lessons from the growth in the usage of cloud services, for example by enabling more automation, simplifying procurement and doing more to share good practices.