At this year’s Channel Partners Conference and Expo, hosted in Las Vegas from April 10th through the 13th, there was no shortage of IoT-oriented exhibitors, solution providers, presentations, or educational sessions. As one of the largest and most prominent Channel-focused events of the year, the undeniable presence of IoT is a significant signal that the legacy focus on terrestrial landline telephony and Internet services is indeed transitioning to wireless, connected products and services.
As one of the six industry tracks at the event, there was plenty for the Channel Community to learn about IoT and why it is critical for Channel Leaders to begin developing their IoT strategies. To summarize our observations, here are three key reasons why the Channel needs IoT:
- IoT solutions are a natural evolution of traditional service offerings – Many Channel Partners and Solution Providers have made their names selling wired solutions. As technological innovations drive down the cost, increase the accessibility, and improve time-to-market of wireless solutions; more and more businesses are letting landline connectivity solutions fall to the wayside. With this in mind, it’s important that Channel Partners evolve their product and service portfolios to remain in alignment with industry trends.
- The infancy of IoT is contributing to a skills gap, and requirement to outsource – Because the IoT is still a relatively new industry, many businesses looking to deploy IoT solutions do not have the internal expertise or skill sets to execute their strategies. As stated by Sue Galvanek, Vice President of Marketing, Pricing, and Product Solutions for AT&T Partner Exchange, “75 percent of those organizations considering an IoT strategy want outside help, bringing partners a huge opportunity.”
- Exponential IoT adoption rates present massive opportunity – As you’ve likely already seen in analyst and research reports – the projected numbers for connected devices over the next 5-7 years are simply colossal. As forecasted by IHS, the IoT market will grow from an installed base of 15.4 billion devices in 2015, to 30.7 billion devices in 2020, and 75.4 billion in 2025. Who wouldn’t want a piece of that pie?
In markets ranging from Retail, to Healthcare, to Security, just to name a few, the IoT knows no limits. Enterprises are hungry for new IoT applications and the demand is generating a tremendous business opportunity for Channel Partners as well as IoT Solution providers such as KORE.
Committed to an indirect channel model, KORE offers flexible channel engagement models that enable our partners to provide a broad range of IoT products and services to their customers. Click here for more information regarding KORE’s Channel Program.