{"id":5278,"date":"2015-03-18T07:00:00","date_gmt":"2015-03-18T15:00:00","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=5278"},"modified":"2015-02-11T09:04:02","modified_gmt":"2015-02-11T17:04:02","slug":"internet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/internet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services\/","title":{"rendered":"Internet of Things: IoT Becomes Springboard for Manufacturers to Diversify into Software and Services"},"content":{"rendered":"<p>By the end of 2013 there were 9 billion devices connected to the internet. \u00a0By 2020 the scope of connected devices and the Internet of Things is expected to grow to 28 billion, <a title=\"IDC estimates of the internet of things\" href=\"http:\/\/www.idc.com\/downloads\/idc_market_in_a_minute_iot_infographic.pdf\" target=\"_blank\">as estimated by IDC.<\/a><\/p>\n<p><a href=\"http:\/\/formtek.com\/blog\/wp-content\/uploads\/2015\/02\/logo-idc.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5279 alignleft\" title=\"IDC\" alt=\"logo-idc\" src=\"http:\/\/formtek.com\/blog\/wp-content\/uploads\/2015\/02\/logo-idc.png\" width=\"149\" height=\"49\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>An IDC report prepared for <a title=\"Flexera Software Infographic\" href=\"http:\/\/learn.flexerasoftware.com\/SWM-WP-IDM-AUM-Third-Industrial-Revolution\" target=\"_blank\">Flexera Software <\/a>looks at how the IoT market is changing the nature of traditional manufacturing, turning manufacturers into software and service shops:<\/p>\n<ul>\n<li>The number of manufacturers that will be making devices with the ability to communicate via the internet will double over the next two years<\/li>\n<li>Manufacturers are increasingly adding technology to the devices to produce software-enabled &#8216;intelligent devices&#8217;<\/li>\n<li>Manufacturers (79 percent) are beginning to build in remote monitoring and maintenance of their products<\/li>\n<li>Manufacturers are growing their margins by bundling their hardware with software, services and consulting<\/li>\n<li>Manufacturers are increasingly getting more of their revenues from software and services, compared to just hardware<\/li>\n<\/ul>\n<p><a title=\"Amy Konary bio\" href=\"http:\/\/www.idc.com\/getdoc.jsp?containerId=PRF000265\" target=\"_blank\">Amy Konary<\/a>, research vice president at IDC said that\u00a0&#8220;hardware device makers are faced with a variety of challenges associated with thin margins, inflexible and costly supply chains, and limited revenue streams. \u00a0By transforming their business models via software, Internet connectivity and licensing capabilities, device makers can enter new markets, diversify and increase their revenue streams, improve margins, and differentiate from the competition.. That is exactly what is happening now.&#8221;<\/p>\n<div class=\"lightsocial_container\"><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/digg.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/digg.png\" alt=\"Digg This\" title=\"Digg This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.reddit.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/reddit.png\" alt=\"Reddit This\" title=\"Reddit This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.stumbleupon.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/stumbleupon.png\" alt=\"Stumble Now!\" title=\"Stumble Now!\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/buzz.yahoo.com\/buzz?targetUrl=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F&amp;headline=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/yahoo_buzz.png\" alt=\"Buzz This\" title=\"Buzz This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.dzone.com\/links\/add.html?title=&amp;url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/dzone.png\" alt=\"Vote on DZone\" title=\"Vote on DZone\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.facebook.com\/sharer.php?t=&amp;u=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/facebook.png\" alt=\"Share on Facebook\" title=\"Share on Facebook\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/delicious.com\/save?title=&amp;url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/delicious.png\" alt=\"Bookmark this on Delicious\" title=\"Bookmark this on Delicious\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.dotnetkicks.com\/kick\/?title=&amp;url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/dotnetkicks.png\" alt=\"Kick It on DotNetKicks.com\" title=\"Kick It on DotNetKicks.com\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/dotnetshoutout.com\/Submit?title=&amp;url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/dotnetshoutout.png\" alt=\"Shout it\" title=\"Shout it\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.linkedin.com\/shareArticle?mini=true&amp;url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F&amp;title=&amp;summary=&amp;source=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/linkedin.png\" alt=\"Share on LinkedIn\" title=\"Share on LinkedIn\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.technorati.com\/faves?add=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/technorati.png\" alt=\"Bookmark this on Technorati\" title=\"Bookmark this on Technorati\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/twitter.com\/home?status=Reading+https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/twitter.png\" alt=\"Post on Twitter\" title=\"Post on Twitter\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.google.com\/buzz\/post?url=https%3A%2F%2Fformtek.com%2Fblog%2Finternet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services%2F\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/google_buzz.png\" alt=\"Google Buzz (aka. Google Reader)\" title=\"Google Buzz (aka. Google Reader)\" \/><\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>By the end of 2013 there were 9 billion devices connected to the internet. \u00a0By 2020 the scope of connected devices and the Internet of Things is expected to grow to 28 billion, as estimated by IDC. &nbsp; An IDC<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/formtek.com\/blog\/internet-of-things-iot-becomes-springboard-for-manufacturers-to-diversify-into-software-and-services\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-5278","post","type-post","status-publish","format-standard","hentry","category-internet-of-things-iot"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/5278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=5278"}],"version-history":[{"count":0,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/5278\/revisions"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=5278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=5278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=5278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}