Description

This study analyzes the market opportunity for Internet of Things (IoT)-based solutions in the customer support function across the enterprise and consumer segments.

Research scope
- The study offers an overview of the various customer support areas that can leverage IoT-enabled solutions.
- The research identifies and analyzes drivers and challenges impacting implementation and use of IoT-enabled solutions.
- The focus is on the US market.
- The study highlights use cases and market opportunities across the enterprise (with a focus on manufacturing), consumer, and smart city segments.

Organizations and consumers are increasingly relying on technology to boost operational efficiency and effectiveness. In the enterprise market, there is a significant need to reduce unplanned/unscheduled downtime and related costs that arise out of equipment breakdowns and unanticipated delays in the supply chain including logistics. Furthermore, the need to boost return on assets is creating demand for proactive monitoring and maintainance of core operational technology such as assembly line industrial robotics or commercial jetliners. Effective and timely support can also help organizations improve satisfaction and loyalty while also reducing customer retention costs.

IoT-based solutions are having a profound influence on how organizations perform various functions, ranging from tracking and monitoring physical assets to building and managing customer relations. These IoT solutions, such as predictive maintenance notifications for industrial robotics or provision of real-time insights into supply chains, are helping organizations reduce waste, boost operational efficiency, and gain greater visibility into processes. At the same time, growing adoption of IoT solutions is enabling new business models for IoT vendors and end users. For instance, growth in implementation of IoT-enabled smart building management systems is driving building system vendors to develop and market new services, thereby improving customer support while also expanding revenue streams.

Growth opportunities for IoT vendors across a range of enterprise, consumer, and smart city operational areas are analyzed along with use case examples.

Key questions this research will answer
1. What areas offer the biggest opportunity to implement IoT-enabled customer support?
2. How is IoT-enabled customer support helping organizations that serve industrial, consumer, and smart city markets?
3. What challenges must be addressed to maximize the potential of IoT-enabled solutions in the customer support function?
4. What strategic operational and personnel changes may be required when implementing IoT-enabled customer support?
5. Which IoT solutions are likely to realize greater traction in the short and long terms?