What’s really driving the Internet of Things?

By Stephan Romeder, General Manager at Magic Software Enterprises Europe

The Internet of Things (IoT) is a key technology for business, which can be seen by the number of current programmes and business initiatives related to it.

A three-year programme called IoTUK was launched last month by the UK government, which is committed to invest £40 million to advance IoT in business and public sectors.

Deutsche Telekom and SAP announced at CeBit last year that they would work together on software standards for IoT devices that take the interests of German businesses into account.

Volkmar Denner, the chief executive of Bosch, announced last May that the future of his company depends on the IoT. With products including home appliances, auto parts, and industrial tools and monitoring systems, the company is aiming to connect devices over the internet to fuel smart homes and cars, and to digitise Bosch manufacturing in ‘smart’ factories.

Clearly the opportunities are there. The key to successful IoT initiatives will be the organisation’s ability to implement those IoT applications that can demonstrate success, result in a strong ROI and bring additional investment for further development.

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