IoT in supply chain management

Abstract

Both in India and in the US we can observe that the focus of IoT firms have been in providing domain specific solutions that are not specialized for any industry. In both instances we see that number of firms in industry specific solutions is very low. That being said in the US relatively more firms are offering full suite services for a particular industry than in India. Industry agnostic solutions have been the focus of initial solutions because they offer wider potential total addressable markets. However, a lot of industries require solutions that are tailored to them given the idiosyncrasies of the industry. A similar pattern had emerged in case of SaaS solutions as well, where the later players in the market targeted industry specific solutions (going deep instead of going broad). This is identified as a potential opportunity in the IoT space as well. Medical, Oil & Gas and F&B are some of the industries which could be targeted with a full suite of solutions. The companies in the US working in this space are well funded which signifies their potential.