Top 10 Strategic Imperatives in IoT and Edge, 2024

Strategic imperatives are concepts that companies embrace to overcome internal and external challenges, such as economic disruptions that make it difficult to prepare a company for the future. Frost & Sullivan has identified eight: 1. Innovative Business Models 2. Compression of Value Chains 3. Transformative Megatrends 4. Disruptive Technologies 5. Internal Challenges 6. Competitive Intensity 7. Geopolitical Chaos 8. Industry Convergence An understanding of these imperatives allows companies able to formulate a solid, realistic vision and strategy to set long-term objectives and build a growth pipeline of innovative opportunities leading to sustained, transformational growth. This study analyzes the strategic imperatives for the internet of things (IoT) and edge markets. Frost & Sullivan experts ranked them in terms of industry impact and described them in detail. These forces are profoundly impacting all participants within the IoT and edge ecosystem, driving the need for product innovation, revamped business models, new partnerships and a strategic roadmap to unlock new growth opportunities. The study spotlights companies to action, which are strategic ecosystem participants driving cutting-edge IoT and edge solutions, showcasing their contributions and potential to move the industry forward. Author: Cecilia Perez