The report reveals that the countries at the top of the index like South Korea, Singapore, New Zealand and Australia ranked well in all measures of stature, business readiness and technological preparedness. Other countries included in the benchmarking exercise are China, Taiwan, Hong Kong, India, and ASEAN countries namely Malaysia, Thailand, Indonesia, Philippines and Vietnam.
“Governments in Australia and New Zealand are startup and business friendly in general, fostering an innovation market where there is fierce competition for venture capital funds” Ujhazy (Associate Vice President, IOT & Telecoms at IDC) says.
So how will IoT change the way we do business? Business loves data and with IoT devices connecting consumers in new ways with more interactions, they’ll have greater access to that data than ever before. Smart devices will be able to track and record patterns of consumer behavior, and possibly even learn from them, making intelligent product recommendations and customizing searches in new, innovative ways.
The IoT could open up a world of new possibilities for remote work. With multiple devices all wired into the same network, your remote working employees will be more connected than ever before, and may be able to accomplish new types of tasks from remote locations by tapping into devices in your office or factory floor.
The latest and greatest IoT developments will likely allow you and your workers to accomplish large-scale tasks faster and with greater precision, including data analysis and management. You may find that you need fewer staff members, or else you’ll be able to scale operations in new areas that allow you to expand your business.
Consumers will also demand more integration, more efficient tools, and accessories that make their new smart home-enabled lives smoother and more efficient. It will be your job to dream up the ideas that can make that a reality.
So how quickly is IoT technology going to take off? with two major “home base” devices on the market and dozens more to come, I suspect that 2018 will be when the LoT devices take off in popularity, with at least a third of all homeowners owning at least one smart device.