Survey of Product Developers Reveals Increasing Importance of IoT in Bringing New Technologies to Market

December, 28/2018 - 03:41
Survey of Product Developers Reveals Increasing Importance of IoT in Bringing New Technologies to Market

Partnerships help developers advance their innovations; security remains top challenge to IoT deployment

 

PHOENIX - Media OutReach - 3 January2019 - Internet of Things (IoT) andsensor technology experienced remarkable double-digit growth in 2018, yetsecurity for IoT continues to be the greatest challenge for electronic productdevelopers to overcome, according to new research from Avnet (Nasdaq: AVT), aleading global technology solutions provider.




Infographic depicts the future of hardware throughthe eyes of element14 and Hackster.io community members who participated in arecent Avnet survey about bringing new products to market.  


For this latest Product Developer Index, thecompany surveyed 1,190 members of the 1.3 million strong Hackster.io and element14engineering communities to understand where they are focusing their developmentefforts, what the challenges are, and what has changed over the past year.


According to 61 percent of respondents, IoT andsensors are the most important technologies for products they're designingtoday. IoT products saw the most significant growth in importance, up 14percent from last year, followed closely by drones and robotics projects, whichwere up 8 percent. More than a quarter of developers (26 percent) also notethat IoT is the most improved technology of 2018, followed closely byartificial intelligence (AI) at 25 percent.


"Developers have more access to resources andcommunities like ours, and this is helping accelerate the pace of bringing newproducts to market," said Dayna Badhorn, vice president of emerging business,Avnet. "IoT and sensors are leading the way in importance and impacting thedesign process. But survey respondents also noted these are the most underratedtechnologies when it comes to innovation, signaling that IoT and sensors willhave an even greater impact as developers engage partners to help them taketheir ideas from prototype to production."


Challenges Persist
Despite the robust growth of innovation last year, developers are facinggreater challenges in certain areas, the research revealed. According torespondents, the most difficult elements of product development are identifyingthe best technology to use in their designs (26 percent), as well as obtainingproduct certification (22 percent). The most challenging aspect of bringingproducts to market is obtaining financing for development (34 percent).


Developers believe that security remains thebiggest technological hurdle in IoT deployment (81 percent). Time is thegreatest hindrance, respondents say overwhelmingly. They also say that cost isthe biggest challenge in moving from design to manufacturing.


However, developers saw some improvements over thepast year. When asked what phase of product development has become easier, 58percent pointed to developing and testing prototypes, which is up 17 percentfrom the year prior. Developers also found improvements in the process ofidentifying the best source for technologies (up 9 percent) and scalingproduction (up 16 percent).


Partner Support Abounds
The survey also revealed interesting trends toward finding new partnerships andcollaborations for development. More than a third (37 percent) of developershave sought a partner to help them bring a product to market. When looking forthat potential partner, several qualities stand out. Developers said that theylean toward those who have a strong track record in their industry (49percent), can offer strong technical support (43 percent), or are a result of apersonal relationship or recommendation (39 percent).


An overwhelming majority of developers (76 percent)prefer having the flexibility to select and choose vendors based on marketneeds and expertise.


"These trends suggest that having one partner whocan offer critical design, development and manufacturing capabilities can beinvaluable to the go-to-market strategy," Badhorn added. "At this time of rapidinnovation, developers seek the best of both worlds -- a comprehensiveecosystem that allows for the flexibility and options developers desire, withthe streamlined support and cost benefit of a single partner."

 

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About Avnet

Avnetis a global technology solutions provider with an extensive ecosystemdelivering design, product, marketing and supply chain expertise for customersat every stage of the product lifecycle. We transform ideas into intelligentsolutions, reducing the time, cost and complexities of bringing products tomarket. For nearly a century, Avnet has helped its customers and suppliersaround the world realize the transformative possibilities of technology. Learnmore about Avnet at www.avnet.com.

 

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