From the Boston Consulting Group, Winning in IoT: It's All about the Business Processes, the following chart identifies 10 use cases that are poised to mature rapidly and experience widespread adoption:
"Our analysis uncovered three major findings. One, there is no such thing as “the” Internet of Things: today’s market is heavily driven by specific use case scenarios. Two, while in the aggregate, companies will spend an incremental €250 billion on IoT in 2020 (over and above their normal technology spending), three industries will account for approximately 50% of that spending. And three, although all layers of the IoT technology stack are poised to grow through 2020, the layers are not equally attractive."
Shelfbucks' solution that optimizes POP Merchandising Displays fits into two BCG use cases: Track and Trace, and Automated Inventory Management. Another way BCG analyzes the beneficiaries of IoT solutions is by industry:
Shelfbucks solution fits into three of the above industries: Discreet manufacturing, Transportation and Logistics, and Retail.
Where is the real value for IoT?
BCG postulates "IoT’s real value, from the customer’s perspective, is in the top two layers of the technology stack; that is, services and IoT analytics and applications."
This is a key takeaway, namely that IoT applications allow companies to make sense of data and generate meaningful insights. What Shelfbucks' customer prospects want is making sense of the data and generating meaningful insights that generate improved business performance.
NRF, Retail's Big Show 2017 recently had a panel discussion with CPG and retail experts on new technologies to improve execution and performance on your critical in-store marketing spend. To view a video E-Book of this panel discussion about optimizing POP merchandising displays, click here.