Famark Enterprise IoT
Industrial and Enterprise Internet of Things (IoT)
March 2017 - Famark is emerging as one of the Top companies for Industrial and Enterprise Internet of Things (IoT) based on the Market Analysis and Forecasts for Enterprise IoT and IIoT 2017 – 2022 - according to Research and Markets.
Enterprise Resource Planning (ERP) is manifest in architecture that facilitates the flow of information among the different functions within an enterprise. ERP software provides a central repository for all enterprise information while improving the flow of data across organization. Internet of Things (IoT) software and systems transform this further as IoT enabled ERP solutions connect people, processes, data, and things in one repository.
IoT is anticipated to enhanced ERP system efficiency, facilitate new business models, and align physical operations with digital assets on a real-time basis. Cloud and AI technology support ERP systems further as they provide scalability and intelligent insights. The goal is to generate insights, allowing for faster and more accurate/appropriate decision making, and fostering a more customer centric business.
Enterprise Internet of Things or simply Enterprise IoT is the next advancement in technology that enables physical 'things' with embedded computing devices (tiny computers) to participate in business processes for reducing manual work and increasing overall business efficiency.
Famark has been appreciated for its role and contribution in shaping the evolution of Enterprise System and Internet of Things; particularly in establishing standards for communication between embedded IoT devices, IoT platform and enterprise software systems. Enterprise System and Internet of Things (IoT) will bridge diverse technologies to enable new business applications that connect with physical objects like devices and machines.
- There will be an incremental $49.9 billion market opportunity for IoT ERP software and services by 2022.
- About 50% of the global small, mid-sized, and large enterprises will deploy some kind of IoT enabled ERP by 2022.
- SaaS business model is expected to achieve substantial growth as compared to the built-to-order business model.
Virtually all enterprise functions will require significant transformation to prepare for and maintain IoT enabled ERP.
Following the mention in the market analysis report, Famark has also been featured in other research and news articles:-
- Global IoT Enabled Enterprise Resource Planning (ERP) Market Outlook and Forecasts 2017 -2022 - Analysis of Key ERP Vendors and their IoT Initiatives - Globe News Wire
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