A 2017 study by Gartner suggested more than half of new business processes and systems will incorporate some element of the IoT by 2020. This finding seems to be on-target as use cases build support across industries. Last week, I explored the top four and bottom four use cases for the IoT across industries. I thought it was interesting to compare those findings against ones previously produced by BCG. Although the X and Y variables for the BCG study were time to maturity to estimated spending versus time to benefit and benefit strength on the Capgemini matrix, it’s still an interesting comparison. As the precursor to the Capgemini study, it’s interesting to see how well the BCG study estimated growth for each of the Capgemini top five use cases.
According to BCG, business leaders are asking how IoT can help their companies increase customer satisfaction, improve quality, support new business models (such as data-driven services), and reduce costs. What they found back in 2017 as the top ten most valuable use cases were:
(1) Predictive maintenance
(2) Self-optimizing production
(3) Automated inventory management
(4) Remote patient monitoring
(5) Smart meters
(6) Track and trace
(7) Connected cars
(8) Distributed generation and storage
(9) Fleet management
(10) Demand response
According to the Capgemini study, the top five were:
- Environment monitoring
- Warehouse management, inventory monitoring, and renewable plants supervision
- Smart metering
- Inventory intelligence
Although the use cases weren’t perfect matches, I would ascertain the estimates were on-target with the BCG study.
Read the full set of statistics including the BCG study referenced at Forbes.com.
