Skip to main content

Internet of Things Apps are Booming in Hospitality Sector

The ecosystem for Internet of Things (IoT) applications in the B2B market continues to blossom, as more vendors develop new offerings. In a recent analysis of more than 500 companies and their IoT service capabilities, ABI Research found that both partner programs and their member companies are maturing, with 59 percent of listed organizations receiving a high grade.

This is nearly double the number of organizations that received a high maturity ranking when ABI Research first analyzed these IoT ecosystems in September 2015. This increase in IoT maturity stems in part from the actions of partner program parents who offered their members access to training and certification programs.

Internet of Things Market Development

"Within these ecosystems, there is a continuing shift from traditional volume-based partnerships to value-based partner engagements," says Ryan Harbison, research analyst at ABI Research.

These IoT programs require a higher level of engagement from both parents and participants who together seek to offer a differentiated solution using a diverse and sometimes undifferentiated set of technologies.

The ecosystems offer B2B solutions to clients looking to utilize IoT solutions to increase sales opportunities and decrease operating costs. Over a nearly two-year period, ABI Research identifies a 40 percent increase in the number of companies offering manufacturing, industrial, and enterprise IoT solutions.

The biggest increase occurred in the hospitality segment, which saw a 164 percent growth in the number of companies offering vertical-specific solutions. This is due to increasing demand from hotels looking to monitor and automate building processes while also offering guests personalized digital experiences.

While the success of these programs is dependent on collaboration among hardware, connectivity, and software providers, these ecosystems skew more toward the software side than the hardware side.

Outlook for IoT Services Growth

The IoT service categories with the biggest increase in participants are connectivity management services and device cloud to device software platforms.

"It is crucial to track changes within these ecosystems, because these developments reflect the trajectory of the overall IoT market," concludes Harbison.

According to the ABI assessment, enterprises and end-users across all vertical markets will continue to turn to these ecosystems to more effectively navigate the otherwise fragmented technology and supplier landscape.

Popular posts from this blog

Digital Transformation Investment at $3.4 Trillion

Business technology leadership matters. Across the globe, more leaders have been pursuing bold Digital Transformation (DX) initiatives with the goal of creating new sources of business value through digital products, services, and experiences. As an additional benefit, the COVID-19 pandemic revealed that digital transformation efforts improve an organization's resilience against global market disruptions. Global DX investment is forecast to reach $3.4 trillion in 2026 with a five-year compound annual growth rate (CAGR) of 16.3 percent, according to the latest worldwide market study by International Data Corporation (IDC). Digital Transformation Market Development "Despite strong headwinds from global supply chain constraints, soaring inflation, political uncertainty, and an impending recession, investment in digital transformation is expected to remain robust," said Craig Simpson, senior research manager at IDC . The benefits of investing in DX technology -- including aut

Artificial Intelligence for National Border Security

National border protection agencies are under pressure to provide the highest level of security in the face of growing threats, such as increasing illegal migration and international terrorism. Now, government agencies are embracing advanced border security technologies to aid in effectively and reliably securing national borders. These solutions look to detect and identify potential threats and prevent them from escalating to a point that may jeopardize security. Security Surveillance Market Development Traditional border security patrols and Closed-circuit Television (CCTV) surveillance systems aren't adequate protection, and agencies must increasingly deploy new solutions to stay ahead of criminals and other potential threats to ensure the safety of a country’s borders. According to the latest market study by Juniper Research, the value of the border security technology market will exceed $70 billion globally in 2027 -- that's rising from $48 billion in 2022. Growing by 47 p

How to Apply Sustainability to Drive Value Creation

Global climate change policy initiatives have been an emerging topic for CEOs and their leadership teams, as they look to the future. Many organizations are preparing to play their part and help reduce carbon emissions. Eighty-seven percent of business leaders expect to increase their organization’s investment in sustainability over the next two years, according to the latest worldwide market study by Gartner. Customers are the stakeholder group creating pressure for these organizations to invest or act on sustainability issues -- selected by 80 percent of executives, followed by investors (60 percent) and regulators (55 percent). Sustainability Market Development "Sustainability enables businesses to cope with disruption," said Kristin Moyer, VP analyst at Gartner . "Economic uncertainty, geopolitical conflict and escalating materials and energy costs are forcing businesses to reexamine all forms of expenditure." According to Gartner, this focus on essentialism --