Internet of things, intelligent devices and software propel the third industrial revolution

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A new survey, “The third industrial revolution: intelligent devices, software, and the Internet of things”, realized jointly by Flexera Software and IDC, provides insights into how the third industrial revolution is being fueled by device manufacturers – transforming their products, business models and revenue streams with intelligent and Internet-connected technology. Device manufacturers are significantly transforming their product and services lines through software-driven intelligent devices, Internet of things devices and software licensing/entitlement management capabilities that enable monetization of products and services. According to the report findings, the number of Internet of things makers will be more than doubled within two years: only 30 percent of respondentIoT-Graphic device makers currently develop Internet of things devices. But 34 percent more plan on doing so over the next two years. Software-enabled intelligent devices continue strong growth: today 50 percent of respondents say they develop intelligent devices. Another 21 percent plan on making their devices intelligent over the next two years. Beside, new product/services categories are being created: 79 percent of respondents say they are or plan on delivering remote monitoring and maintenance to their product/service mix; and 66 percent will add Business Intelligence capabilities. The report also explains that 60 percent of device makers use software licensing and entitlement management systems to monetize their intelligent and Internet-connected devices, allowing them to develop new offerings that bundle hardware, services and/or consulting. Finally, according to the report the number of device makers who say that 50 percent or more of revenues comes from hardware will decline by 5 percent over the next two years while the number of device makers who say that 50 percent or more of revenues comes from services will increase by 6 percent over the next two years. The surveys were completed between November 2014 and January 2015, by more than 580 respondents from software vendors, intelligent device manufacturers and end-user enterprises.

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