The Power of Partnerships and Collaboration: Synergizing IoT and Edge for Growth

Paving the Way to Business Excellence Onboard the IoT and Edge Revolution

The digital landscape has historically witnessed three transformative computing revolutions: mainframe, client-server, and cloud computing. Today, as the natural progression of these milestones, the convergence of private networks, Internet of Things (IoT) and multi-access edge computing (MEC) is solidifying its position as a technological backbone for enterprises, reshaping the very essence of their operations.

With the potential to grow at a CAGR of 115.9% by 2025, MEC brings data processing closer to the source, minimizing latency, and enabling real-time decision-making. By processing IoT data at network gateways or endpoints, enterprises can achieve faster response times, reduced bandwidth costs, enhanced security, and unlock near-instantaneous responsiveness. But due to the seemingly endless variety of IoT applications available, organizations find themselves grappling with the challenge of selecting best-fit solutions tailored to their unique business needs — Are your teams equipped with the optimal mix of connectivity and data processing platforms to drive smart decision making?

Armed with the ability to deliver reduced latencies, fortified security, agile data collection, and cost-efficiency, MEC brings a host of advantages to the table for enterprises of the future. Beyond the conventional realms of automation and process optimization, businesses now stand at the threshold of unexplored possibilities. From augmented product development and immersive customer experiences (CX) to remote asset monitoring, predictive maintenance, new business models, and autonomous robotics, the IoT and Edge landscape harbours a treasure trove of untapped potential, stemming from its solution-agnostic nature — How will your organization harness the transformative power of MEC to lead the charge in the race to industries of the future?

Capitalizing on New Realities of the IoT and Edge Continuum

• Security and Surveillance: Smart security and connected surveillance systems leveraging IoT technologies are gaining traction for protecting critical assets across industries to create safer work environments – How will you integrate enhanced security alerts and emergency responses in your digital organization?
• Industrial IoT: As businesses leverage IoT for industrial and smart manufacturing applications, cognitive computing and ubiquitous sensing are driving the shift toward Industry 4.0 and eventually, Industry5.0 – Are your teams ready to maximize interconnectivity of industrial assets to set new benchmarks in digital and lights-out manufacturing?
• Enhanced CX: IoT sensors in combination with disruptive technologies are helping businesses digitize the physical world and quantify human actions – How will your organization leverage technologies like artificial intelligence (AI), machine learning (ML), and cloud computing to predict, optimize, and enhance customer interaction?
• 5G and Immersive Technologies: The rising demand for immersive experiences combined with advancements in augmented reality (AR), virtual reality (VR), and the evolution of 5G is creating new prospects for technology providers, network carriers, manufacturers, and software developers – Do you have a growth pipeline management system to identify and capitalize on the most lucrative growth opportunities for your organization?
• Sustainability Agenda: As the circular economy gains prominence, companies are using the data from connected devices to further their sustainability goals, enhance end-of-life product management, and improve efficiencies in reverse logistics – Which best practices will help your teams meet your organization’s ESG (environmental, social, and governance) and SDG (sustainable development goals) priorities?

In this ever-evolving landscape, cross-industry enterprises are embarking on a journey to expand and amplify their IoT and MEC capabilities in pursuit of strategic business objectives.

Now, unlocking the full potential of IoT and Edge requires thoughtful consideration on:

Collaborative Disruption: Driving Transformation Leveraging MEC

Now, capitalizing on the IoT and MEC transformation requires a comprehensive roadmap that goes beyond just adopting the latest technology. Embracing a holistic strategy that converges the vast landscape of IoT and MEC technologies with overall enterprise goals is essential for driving growth and innovation. Today, technology providers, network carriers, manufacturers, and software developers cannot implement and manage MEC in isolation from each other. This is opening doors for new strategic alliances that boost access to specialized expertise, resources, and a broader ecosystem of solutions. Pooling resources and knowledge, thus facilitates the creation of end-to-end, value-added IoT solutions that address specific industry challenges and drive substantial business outcomes — How will you foster optimal strategic partnerships that maximize the ROI on your IoT and MEC investments?

Now, the key to IoT success lies in identifying the right strategies that can set enterprises apart from competitors, by accelerating product development and fostering an environment of continuous learning and improvement.

Answering the following questions can help industry incumbents maximize their IoT success:

• IoT Providers – How will you integrate AI and ML in your product portfolios to make data smarter?
• Network Vendors – How will you strategize to accelerate 5G deployments and MEC expansion to capitalize on growth opportunities in public and private networks?
• Telecom Operators – What platform innovation strategies will help you provide enhanced value-added services and consumer and enterprise applications?
• Technology Developers – Which IoT platforms support digital twin technologies? How best to integrate these into manufacturing solution portfolios?

Step into the Future: Assess Your IoT and Edge Alignment to Chart Transformational Growth

To navigate evolving business ecosystems, companies across the ICT continuum must identify and overcome crucial growth barriers. The key to success is finding the right opportunities that align with your growth vision and implementing the best-fit strategies.

Frost & Sullivan has over six decades of experience in connecting global mega trends, emerging technologies, and new business models to drive radical growth. We help companies identify, evaluate, and prioritize best-fit opportunities that empower them to thrive through change.

Let us guide you through your transformation journey by working collaboratively with the ecosystem community of companies in the IoT and Edge continuum.

This journey is fuelled by four powerful components, ensuring your success in navigating industry changes:

• Schedule a Growth Dialog with our team to dive deeper into transformational strategies and explore specific needs within your company.
• Become a Frost Growth Expert in your area of specialization and share your expertise and passion with the community through our Think Tanks.
• Join Frost & Sullivan’s Growth Council and gain access to think tanks focused on transformational growth strategies for IoT and Edge.
• Designate your company as a Company to Action to increase exposure to investors, new M&A opportunities, and other growth prospects for your business.

Start Your Transformation Journey Here