Companies looking to procure connectivity for IoT devices could save on average 28 percent by using a ‘Hyperscale IoT Connectivity’ solution where compliance, security and cloud optimization are standard features. In total, these savings equate to USD117 billion for enterprises around the world over the next decade. This is the key finding of an extensive new set of research undertaken by Transforma Insights.
Companies looking to procure connectivity for IoT devices could save on average 28 percent by using a ‘Hyperscale IoT Connectivity’ solution where compliance, security and cloud optimization are standard features. In total, these savings equate to USD117 billion for enterprises around the world over the next decade. This is the key finding of an extensive new set of research undertaken by Transforma Insights.
Buying IoT connectivity involves an increasingly complex set of decisions. The technology landscape is fragmented, regulatory requirements are becoming ever stricter, the number of tools on offer can be dizzying and the scale too is becoming ever greater. The costs of missteps are increasing dramatically.
In this report we examine how the provision and support for global cellular IoT connectivity is changing and the consequent requirement for a new hyperscale approach, which meets all the new demands for localization, increased security, and compliance with various regulations, and does it at scale.
The key headlines of the research are as follows:
The single largest component of this is additional device-to-cloud integration cost which accounts for over a quarter of the total. This cost can be reduced through a simplification of application, architecture and data routing complexity. Missed revenue opportunities due to slower time-to-market and additional security costs are the next largest categories.
The Consumer and Government sectors stand to save the largest amount in absolute terms. Manufacturing, on the other hand, stands to save the most proportionately; failing to use Hyperscale IoT Connectivity will result in greater compliance costs for the sector than its entire spend on cellular connectivity.
