Canonical shows how to choose a winning IoT business model

The Internet of Things (IoT) is more than just the latest buzzword -- although it arguably started off life as such. Just as with any developing technology or trend, it is eyed with suspicion and eagerness in equal measure, but many businesses simply don't know where to start.

Ubuntu-maker Canonical has conducted research with IoT professionals, and it reveals the challenges and opportunities offered by the IoT. It highlights what needs to be considered in the areas of monetization, skills and security, and signals a way forward for businesses looking to make headway in this relatively new arena.

Like social media before it, the true potential of the Internet of Things has taken a little while to become clear, and for many people this clarity is yet to arrive. But with a market valuation of $900 billion, no one wants to miss out -- it's just a matter of knowing what approach to take and what to expect along the way.

Based on its research, Canonical has produced a report entitled "Defining IoT Business Models" which you can download here.

The company has also put together an infographic of its findings which you can see below:

Image credit: Panchenko Vladimir / Shutterstock