- The hype surrounding digital twins is undoubtedly real, with many IoT players actively seeking to leverage the unique benefits of digital twin technology to gain a competitive edge in the market.
- Connectivity, a key component of digital transformation, was at center stage with a significant focus on satellite and 5G.
- Partnerships, collaborations, and API will fight the fragmentation in IoT and digital transformation.
Counterpoint Research analysts recently attended three of the most prominent tech events of 2023 – Consumer Electronics Show, Mobile World Congress, and Industrial Transformation at Hannover Messe. After a hiatus of three years, these events saw a remarkable return of in-person attendance, indicating a promising comeback of the tech industry. During their visits, Counterpoint analysts delved deep into the latest trends and advancements in IoT and digital transformation, and have now identified seven key takeaways or focus areas. The findings are expected to have far-reaching implications for businesses and organizations looking to stay ahead in the rapidly evolving tech landscape.
Commenting on the key takeaways, Associate Director Mohit Agrawal said, “As we attended the tech events of 2023, it became increasingly clear that the rise of digital twins was the single biggest takeaway, particularly in Hannover. We saw how digital twins have energized the industrial IoT players, and are likely to become a critical component of digital transformation in the coming years. Connectivity plays a crucial role in enabling digital transformation and the events had a significant focus on satellite, private networks, eSIM, 5G, and connectivity management platforms. Finally, we were impressed with the companies’ incorporation of AI in various processes, especially in analytics, visual inspection, and robotics. It is exciting to see how these technological advancements will shape the future of industries, and we are eager to keep a close watch on these developments.”
Each of the events was attended by over 100,000 visitors and had exhibitors across the long value chain of IoT and digital transformation. Many of the takeaways amplified Counterpoint Research’s top trends prediction for 2023 released earlier this year, noted Research Vice President Neil Shah. “IoT is an incredibly vast and fragmented value chain, and it is becoming increasingly clear that industry consolidation is necessary. Efforts like the Qualcomm Aware platform are a step in the right direction to reduce fragmentation and improve the overall IoT landscape. It is essential to see more of these kinds of partnerships between players in the industry to reduce adoption friction points and fully realize the potential of IoT. APIs are increasingly becoming important in seamless collaborations. As we move forward, we remain optimistic about the future of IoT and the role that industry collaboration will play in driving innovation and growth,” Shah added.
