Guide to IoT Innovation (SME Focus)
The report aims at helping small and medium enterprises (SMEs) navigate the options for innovation in the complex age of the Internet of Things.
THE REPORT INCLUDES
• Results from an industry survey of 50 professionals
• 9 detailed successful models of cooperation for external IoT innovation, including pros and cons
• 11 prime examples how European SMEs approach innovation in the IoT space
• 6 further takeaways for SMEs that are searching for a winning formula for being successful in digital transformation and IoT innovation
SOME REPORT INSIGHTS
• The majority (70% of respondents) of SME’s are using IoT technology to improve current products and 52% are aiming for
new service-based business models
• 46% of businesses see lack of internal talent and 40% lack of technology expertise as an obstacle to innovation.
• Internal innovation such as R&D as the only form of innovation is not sufficient anymore and startups are used in nearly
all collaboration forms as an important source of innovation
• Getting to markets faster is the strongest reason to engage in collaboration (59% of respondents)
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