According to a Cisco survey, about 60 percent of IoT projects stall at the proof-of-concept stage, while a third are not considered a success.
Now is an exciting time for technology. Over the past 18 months, tech stocks have experienced enormous growth in many markets. The IoT is no exception; IT and networking company, Cisco, predicts exciting new 'smart' applications across various industries could generate $14.4 trillion of value for companies by 2025.
But there are still challenges to overcome. While companies tend to begin their IoT journeys with "great expectations," IoT author and Cisco executive Maciej Kranz says many ultimately experience underwhelming outcomes for the business.
Why is this the case? While not the complete answer, it seems many of the struggles come from the sheer complexity of the IoT. A plethora of components, software, and technologies must combine seamlessly to build a successful IoT device or end-to-end IoT system.
Strength in numbers
The simple answer to this problem begins with connectivity, and not just that between wireless devices. As Kranz explains, interconnectivity is not just about connections between devices themselves; it's "also about connections between customers, partners, and suppliers." In the same way, that collaboration drove the growth of Cloud and mobile services, and it now has a role to play in shaping the future of the IoT.
An essential element of IoT partnerships is that the members bring the skills to accomplish separate yet complementary tasks. The diversity of partners is critical to a program's success, as it must reflect the diverse support customers need to get their projects off the ground.
The Nordic Partner Program (NPP) is an excellent example of a partnership initiative focused on reducing the risk and accelerating the development of IoT products. The program involves both design and solution companies that have experience creating IoT solutions and bringing them to market.
Because proven wireless connectivity is key to a successful IoT solution, the NPP focuses on partners with a strong track record working with Nordic's RF technologies. This in-depth knowledge of the Nordic solutions means these parties can easily help customers with product quality and cost, development, and time-to-market.
Design and solution answers
The NPP's design partners help with a specific aspect of a complex design or provide premade solutions. In contrast, solution partners provide customers with resources or components they can use as building blocks when creating complex systems.
Early design partners in the NPP include CA Engineering, Croxel, Device Solutions, Indesign, NeuronicWorks, NEUVATEK, Lobaro, Meshtech, Norbit, Sigma Connectivity, and Shenzhen Minew Technologies. IOSEA, Telenor, and A1 Digital are solution partners, while German firm grandcentrix is both a design and solution partner. Additional partners are being added all the time. Please visit the Nordic Partners page to contact any of the design or solution partners.
Benefits of diversity and experience
There are clear and convincing advantages for businesses looking to participate in a partner program like the NPP. For a start, when they plan an IoT solution, their strategy doesn't have to be restricted to the technologies with which they are familiar. Shared knowledge boosts ambition.
There is also the benefit of the shared goal among the participants of a partnership program. This creates a stronger customer-focused mindset and emphasizes delivering the best service and overall outcome without a big focus on which organization is involved in providing it. Working alongside other experienced providers can also inspire companies to improve their skills and innovate continuously.
Finally, well-organized IoT partnership programs can increase the awareness and understanding of the value of the IoT to businesses. At present, a lot of the technology's promotion falls on those involved in delivering the IoT solutions. However, many of these IoT providers tend to focus on engineering rather than marketing and aren't experienced or skilled at promotional work. In a group like the NPP, the mix of voices and capabilities can present a clearer and united vision of the IoT's many possibilities to an enthusiastic audience.
Read more: The IoT is the new normal