IoT is a highly competitive market currently. In our recent IoT CSP survey, we asked CSPs to rank verticals on a scale of 1 to 10 (with 10 being high) for their current importance to them in terms of size and revenue. We can make a number of observations based on the survey results:
• There are a cluster of verticals that are of comparable high importance, demonstrating that enterprise CSPs have a significant and diverse presence in multiple verticals including healthcare, agriculture, utilities and energy.
• A few sectors appear to be relatively lagging in importance to IoT CSPs, including automotive manufacturing, and non-automotive transportation.
• These include sectors that have few buying points and could represent an area that is difficult to crack – this could explain the lower importance of automotive manufacturing where a very specialist IoT application offering may be required.
• CSPs can adopt a strategy of being specialist or generalist and the relative high importance of most sectors is reflecting a more generalist approach.
Our next data extract will focus on how the vertical markets will evolve over the next 12 to 24 months. Find out more by downloading our free IoT Market Outlook Report at www.tecfutures.com.