Blue Hill Research Entrepreneur in Residence Tony Rizzo has released extensive new Internet of Things (IoT) research, a collection of IoT case studies and reports that have uncovered two key IoT realities: a thriving community of startups utilizing IoT to create new business models and significant efforts to drive new IoT projects among certain large enterprises.

The research underscores that IoT extends far beyond simply utilizing basic connected devices. Forward thinking startups and larger businesses are utilizing smart, connected devices and systems of smart, connected devices to build new businesses and creatively extend and transform older platforms into entirely new businesses. PTC and BlackBerry for example are undergoing internally disruptive transformations that will lead to new revenue streams and new ways of enhancing the capabilities and services of well-established product suites.

In all cases the word “smart” is the key to successful IoT projects. Smart combined use of bi-directional and increasingly autonomous communications between products, big data and real time streamed-data analytics, and exciting new IoT application development and data management tools is pushing the boundaries of what can be accomplished.

Blue Hill CEO Ralph Rodriguez notes that, “The current conventional wisdom in the marketplace surrounding IoT is buzz and hype, with companies waiting in the wings to begin their strategy. Our research across companies both large and small shows this is a failed strategy, as thinking is not an action.”

Rizzo agrees and notes that, “Through my discussions with established large vendors like BlackBerry, IBM, PTC, SAP and Splunk, it is clear that IoT represents something entirely new that will lead to true business transformation. Large companies that have not yet understood this will become laggards, irrespective of size or industry.”

“Small companies meanwhile are already doing extraordinary things,” Rizzo adds. “OnFarm initially focused on using IoT to manage self-contained agricultural businesses but is now helping entire geographical regions manage their limited natural resources – such as water. Devicify has established services to nurture new smart IoT product development that will lead to transformative new business experiences and value.”

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