- By 2020, Discrete Manufacturing, Transportation & Logistics and Utilities industries are projected to spend $40B each on IoT platforms, systems, and services.
- McKinsey predicts the IoT market will be worth $581B for ICT-based spend alone by 2020, growing at a Compound Annual Growth Rate (CAGR) between 7 and 15%.
- Industrial products lead all industries in IoT adoption at 45% with an additional 22% planning to adopt IoT in the next 12 months according to a recent Forrester survey.
- The Industrial Internet of Things (IIoT) market is predicted to reach $123B in 2021, attaining a CAGR of 7.3% through 2020.
- Harley Davidson reduced its build-to-order cycle by a factor of 36 and grew overall profitability by 3% to 4% by shifting production to a fully IoT-enabled plant according to Capgemini.
There I was shooting the breeze with an old mate. The conversation turned to why Madge Networks which I wrote about here went titsup. My analysis is that Madge Networks had a solution and decided to go out and find a problem. They deferred to more incorrect strategic technology choices. The truth of the matter is that when something goes titsup, its not because of one reason only, but a myriad of them all contributing to the negative consequence. There are the immediate or visual ones, which are underpinned by intermediate ones and finally after digging right down, there are the root causes. There is never a singular root cause for anything but I'll present my opinion and encourage everyone else to chip in. All of them together are more likely the reason the company went titsup. As far as technology brainfarts go there is no better example than Kodak . They invented the digital camera that killed them. However, they were so focused on milking people in their leg