How To Monetize IoT: Build Great App Experiences

By Aaron Mahimainathan, Senior Vice President, DevTools and Telerik Platform, Progress Software

Like many phenomena, the Internet of Things (IoT) is sweeping across the planet like a polar vortex, leaving businesses scurrying to prepare. The buzz is not so much about the here and now, but in the boundless potential it represents — and how to best tap it. So how do you prepare for a concept?

IoT Is Grounded In Mobility

When you remove the artifice, the IoT is grounded in the reality of a familiar craze: mobile. The IoT is a natural extension of mobility. But mobility is more than simply moving. It represents connectedness. Instead of connecting people to people, the focus is connecting people to objects. While most consider the IoT an entirely new beast, examine the central essence of it. We find the IoT so compelling because it enables people to connect, engage — and indeed control — their surroundings in entirely new ways, most notably, when on the go.

Because humans crave connection, it only follows that we should develop ways to remain connected to our “stuff” from afar. Goldman Sachs analyst, Simona Jankowski, wrote in the Harvard Business Review that the IoT is particularly meaningful for certain sectors, beginning with wearables and connected cars, and expanding to connected cities, industrial internet, transportation, oil and gas and healthcare. This begins to ground the conversation in concrete applications that can be developed to advance business objectives. In other words: ways to monetize the craze.

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