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The Internet of Things Connects Business to the Real World

Data shared by the Internet of Things (IoT) offers a powerful opportunity for businesses to design new customer offerings, deliver enhanced efficiencies, and provide unprecedented insight into how to deliver value to their customers. BCG helps organizations unlock new revenue streams, efficiencies, and possibilities.

IoT leaders understand that, at its core, IoT is a fundamental component—and enabler—of digital transformation.

Winning with IoT means connecting more than just devices. It means linking your strategy with your digital journey; employing the right emerging technologies, such as artificial intelligence (AI), augmented reality (AR), and blockchain; collaborating with the right partners and digital ecosystems; and establishing new processes and ways of working.

It’s a tall order for companies, but by understanding the new IoT trends, and how best to leverage them, organizations of all types—businesses, governments, and nonprofits alike—will find that the possibilities for innovation and value are virtually boundless.

Which IoT Trends Are Accelerating Adoption and Creating Opportunities?

Major developments will help companies stake new ground in IoT. The key trends include:

Better Economics

Edge Computing

Advances in AI and AR

Blockchain

Improved Connectivity

BCG’s Approach to IoT Adoption

To harness these trends—and create an IoT strategy that fuels true digital transformation—organizations need to consider a number of crucial questions:

  • Where do we build, and where do we buy, across IoT’s six-layer stack of devices, backbone, applications and analysis, security, communications, and services?
  • How do we identify the right partners and digital ecosystems—because few companies will be able to do everything alone—for filling in gaps in our technical and business capabilities?
  • How do we adopt—and facilitate—new ways of working to establish cross-functional alignment and accountability?
  • How do we reengineer core business processes to capture the full value of IoT?
  • How do we develop or acquire the necessary talent, especially in such areas as analytics, AI, and software engineering?
  • How do we create a scalable technical infrastructure that ensures the fast deployment of new use cases?

BCG’s IoT consultants help organizations zero in on the answers—to unlock new revenue streams, efficiencies, and possibilities— using our approach that integrates strategy, technology, and human components to drive the best outcomes.

BCG Drives IoT Adoption Across Industries

Our IoT consultants help leaders across all industries combine IoT with other emerging technologies to launch innovative solutions and spark digital growth.

Meet Our IoT Consultants and Experts


Learn More About the Internet of Things

The Future of IoT

The Future of IoT

The Future of IoT

BCG NxT: IoT Data Monetization Round Table, March 7, 2019

BCG NxT: IoT Data Monetization Round Table, March 7, 2019

The IOT and Blockchain Invasion

The IOT and Blockchain Invasion

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