In the current market situation, it is fundamental to take the following two aspects into account to be able to provide a useful comparison of IoT platforms:
First, a clear definition of the term is required, given the many different functions an IoT platform should cover as well as the lack of a common understanding of what an IoT platform really is.
And second, being at an early market stage, we have to consider that existing IoT platforms are all different and serve different use cases. For this reason, PAC uses different RADAR segments, dedicated to specific uses cases, to evaluate the providers of IoT platforms in Europe. The PAC INNOVATION RADAR is in fact the first benchmark to apply such an approach.
We use the following four segments:
- IoT platforms for device management and data integration;
- IoT platforms for rapid application deployment;
- IoT platforms for analytics applications;
- IoT platforms for device development.
The PAC RADAR is an effective tool for the holistic evaluation and visual positioning of leading ICT providers within a defined service segment on local markets.
Using predefined criteria, the providers’ revenue volumes and development and market share are assessed and compared alongside their performance and specific competences in the relevant market segment.