In a world where everything is connected, does your customer experience shape up?
When you see a figure as colossal as 25 billion (25 billion anything) it might seem unlikely to be an underestimate.
However, I firmly believe that the 25 billion I’m talking about – Gartner’s prediction for the total number of devices that will be connected via the Internet of Things (IoT) in 2020 – is a significant underestimate.
And I have three strong reasons for thinking so.
First, there’s the falling cost of IoT sensors. As recently as 2015, Goldman Sachs estimated that the lowest achievable cost would prove to be around 65 cents. Just three years later, the actual price point has already fallen to nearer 10 cents, making connectivity economically feasible for a far wider selection of products than previously envisaged.
Secondly, there’s the fast-evolving ‘form factor’ of IoT sensors – essentially, their size and their shape. Now they can be printed, potentially making them an invisible element of just about any manufactured object imaginable, all with no need for configuration.
The third reason is the most important – the immense benefit that manufacturers, retailers and their customers can all derive from the massive disruption the IoT is already bringing to the customer experience.
Two stories were told at a recent PA breakfast briefing, which we co-hosted with Oracle and Enigen to enable companies to get ahead in the IoT game, both of which illustrate quite how far and how fast we are moving. You can download my write-up of the event to find out my key takeouts.
Download my write-up of the event to find out more.