Opportunity for IoT Based Innovation on SAP BTP
⇨ IoT will play a key role in helping organizations build intelligent enterprise.
⇨ SAP BTP is capable of supporting many IoT based capabilities that organizations strive to build.
⇨ Hand holding needs to happen to help organizations realize and understand the opportunities and the roadmap.
Internet of Things (IoT) is at the core of building many intelligent enterprise capabilities, including Industry 4.0. From Mobile assets like tractors or trucks to remote assets like a drilling rig in the ocean, IoT devices capture and relay critical data that can be leveraged in many ways. For many organizations, real-time end-to-end visibility in their operations and supply chain is not attainable if they do not include IoT in their infrastructure. An important aspect to note is that the only way to capture this data, in streaming format, in real-time, from IoT devices, most times, is through interconnectivity with infrastructure as a service (IaaS). The opportunity to create new products, solutions, and markets is huge. Figure 1 from Fortune Business Insights illustrates the opportunity for Industry 4.0 market by 2029. I think these projections are conservative, even for Industry 4.0, and applications of IoT extend beyond Industry 4.0. This also means a big opportunity for hyperscalers and SAP BTP to leverage IoT with other emerging technologies to create huge market opportunities. This article discusses why we believe there is an opportunity for SAP BTP to harness the IoT knowledge gap that exists today.