The influence of the IoT spans a wide range of industries, and it is set to make a bigger impact on the way organizations conduct business than any other recent technological revolution. Organizations that recognize the potential of the IoT and strategize accordingly stand to gain immense long-term benefits from the investment. However, it is not the magnitude of the investment that will determine the long-term success of the organization. Instead, what the organization invests in and how it changes the way it does business is what will make for competitive advantage.
This paper explores the two sets of organizations that participate in an IoT ecosystem —the primary and the secondary. It also discusses ways in which primary as well as secondary participants can benefit from an IoT economy.