Gartner recently OPINED, through it’s vaunted Hype Cycle report, that Big Data was entering the trough of disillusionment and IOT Analytics was still on the upward slope towards the peak of inflated expectations. We find this report to be encouraging (from a market timing viewpoint) and also a bit misleading from a categorization standpoint.
It’s encouraging because it means that Glassbeam is at the right place at the right time – in the white-hot space of IOT Analytics and indeed, recent developments like the LATEST FUNDING ROUND and additions to our board are market validations of this trend.
We find a bit misleading because it is a broad characterization – it does not split the market and trend into consumer versus B2B, or by other parameters.. What we believe is already overhyped and therefore ripe for a quick slide into the trough of disillusionment are specific consumer gains from IOT – for eg, “fridge signaling no milk carton – grocery store getting message – automatic text when you enter the grocery store”. We seem to read about this consistently as the next big breakthrough in IOT and how collectively such innovations will completely alter consumer behavior; however there is no attending consideration to security and privacy concerns that will have to overcome to make this workable.
On the other hand, we believe business applications of IOT – to understand log file data to resolve support issues and unravel new revenue opportunities will consistently find appeal amongst technology companies. Especially since B2B platforms are typically built after taking security considerations into account.
And finally, we find the phrase ‘trough of disillusionment’ a bit misleading too – since it implies a phase where a large section of stakeholders lose interest in the space and that it meanders away for a length of time without any meaningful activity. What it is really a phase of more rationalized expectations, perhaps some market shakeout and more modest valuations for companies in the space.