The huge opportunity and deep business impact of the Internet of Things (IoT) is now widely acknowledged and accepted.
Organizations that are adopting the first wave of IoT technologies are already capitalizing on it and staying well ahead of their competition. The journey from “Internet of Content” to “Internet of People” to “Internet of Things” is well on its way. If we all, collectively, are able to connect information, people and things together to derive new insights (and in turn more human) then we all have a chance to completely transform the world and make it a better place. Such is the potential force and opportunity of IoT. It is indeed a great time to be in software industry!
SAP has been actively investing and co-innovating with our customers and partners in IoT over the last few years. At the recent SAP TechEd && d-code event in Las Vegas, Michael Lynch, Global Co-Lead, Internet of Things, presented SAP’s IoT strategy, our point of view, and how this market is shaping up for SAP, and our partners, to jointly participate and harness the power of IoT for our customers’ advantage.
IoT Business Opportunities – Connect, Transform, Re-Imagine
From 2014 to 2020, about 50 billion devices are anticipated to be connected and this creates a huge business opportunity. There is $14.4T dollars in increased revenues and lower costs from 2013 to 2022 expected because of IoT across retail, mining, oil & gas, transportation and industrial machinery & components (IM&C) industries.
So, how do you do it?
SAP’s vision and positioning is around the following three foundational elements:
- Connect with billions of internet enabled things to gain new insights by combining transactional and social sentiment data, with intelligent analysis of new signals from devices and networks.
- Transform the way you do business based on the new insights that you get from the edge of the network to the core
- Re-imagine your customer’s experience by empowering innovative business models, value added services and customer responsive products
SAP’s place in the IoT Market
Per Michael, we at SAP are solely going to be focused on IoT for business. That is, “We are going to be helping organizations drive real time value in their businesses and for their customers,” said Lynch. And he added, “SAP is very uniquely positioned to do so at Platform, Business Networks and App levels to ensure business outcomes as desired by our customers.”
The slide below captures what Michael talked about. Plus, Michael also touched on the tremendous opportunities our ecosystem partners can participate in and around connectivity as well as apps powered by SAP HANA Cloud Platform.
This story originally appeared on SAP Business Trends.
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