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INFOGRAPHIC: The Internet of Things: Are Organizations Ready For A Multi-Trillion Dollar Prize?

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The Internet is expanding. And this is not just in terms of getting accessible to more people; it is expanding beyond humans. Machines are becoming connected. Machines are talking to humans, but …

The Internet is expanding. And this is not just in terms of getting accessible to more people; it is expanding beyond humans. Machines are becoming connected. Machines are talking to humans, but increasingly, they are also talking to one another. And this interconnectedness of machines, or the Internet of Things (IoT), is a potential multi-trillion dollar market that organizations can now tap into.

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  • 1. of UK-based firms lack the data center infrastructure required to analyze real-time Big Data sets Traditional product-centric organizations lack capabilities in developing and marketing IoT services Existing product-focused sales force is not equipped to sell IoT services IoT places new demands on customer support capabilities Organizations lack Big Data analytics talent to effectively interpret sensor data of US-based IT professionals report are not prepared to secure an ecosystem of connected devices Organizations Need New Functional Skill SetsIoT Creates Significant Technical Challenges Why Have Organizations Been Slow to Get Off the Blocks? 60% 50% ?? ? Reach out: Interested in reading the full report? Head to http://www.capgemini-consulting.com/the-internet-of-things Follow us on Twitter @capgeminiconsul or email dtri.in@capgemini.com #digitaltransformation The Internet of Things Are Organizations Ready For A Multi-Trillion Dollar Prize? Cisco and GE estimate that the size of the IoT pie is over $10 trillion By 2020, over 40% of all data will result from machines talking to one another For Most Organizations, These are Early Days in the Adoption of IoT Solutions support remote operability offer performance improvement insights Maturity of IoT Solutions Monetization of IoT Solutions 27% 34% 10% 10% have made acquisitions have developed open platforms or APIs do not generate service revenues from their IoT solutions provide IoT solutions that integrate with third-party offerings Organizations Are Not Utilizing All Options for IoT Capability Build-Up Integration with Third-Party Solutions 70% 13%Home Appliance and Pharmaceuticals Industrial Manufacturing Medical Devices Utilities and Automotive Manufacturing Insurance Increasing order of maturity Maturity of IoT Solutions by Industry Sources: 1. "The Digital Universe In 2020: Big Data, Bigger Digital Shadows, and Biggest Growth in the Far East”, December 2012 2. Bloomberg, “Cisco CEO Pegs Internet of Things as $19 Trillion Market”, January 2014 3. GE, “Industrial Internet: Pushing the Boundaries of Minds and Machines”, November 2012 4. ComputerWeekly, “Inadequate datacentre infrastructure is a barrier to big data analytics”, June 2013 5. Vitria, “The State of Real-time Big Data Analytics: 2013 Survey Results”, September 2013 6. PR Newswire, “SANS Announces Results of its 2013 Securing the Internet of Things Survey”, January 2014 How Can Organizations Build a Successful Internet of Things Solution Acquire the Right IT Infrastructure Strengthen Functional Capabilities Provide IoT-specific training and incentives to the sales force Augment product management capabilities with services expertise Develop real-time customer support capabilities Invest in scalable data storage infrastructure to keep pace with growing volume of sensor data Use distributed data processing frameworks to manage data Build real-time data analytics capabilities