Industrial IoT development is complicated and not growing as fast as analysts predicted. Cisco is seeing some success, though, thanks to its IoT ecosystem of customers, partners and expert innovators.
Industrial Internet of Things (IoT) does not have the explosive growth of the consumer internet. It’s a nitty-gritty, complicated, and sometimes downright boring business. It is too complex and diverse for explosive growth like the narrowly defined, one-size-fits-all iPhone. That said, the promise of rich returns on investment from new business models that are possible with IoT is very compelling.
The only way to cut through the venture-driven IoT hype cycle is with conversations with builders and implementers at companies investing in IoT, such as Cisco’s co-innovation centre chief, Maciej Kranz.
Kranz summed up his working in Cisco’s IoT business by saying:
“It has not been an easy journey, to be honest. When we started a dozen years ago, I thought that we would be much further along than this.”