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The State of IoT Device Lifecycle Management Report

Northern.tech, a pioneer in device lifecycle management, has unveiled its inaugural report titled State of Industrial IoT Device Lifecycle Management. This comprehensive analysis draws insights from over 500 embedded professionals across various industries, focusing on the essential challenges that Original Equipment Manufacturers (OEMs) encounter in an increasingly software-centric marketplace. As the adoption of IoT technology accelerates, OEMs must prioritize security and compliance throughout the device life cycle.

Key Findings and Challenges

The report brings to light key findings that revealing the complexity of navigating today's digital landscape. Both security and time-to-market are identified as top business priorities, yet many organizations find it challenging to strike a balance between the two. Disturbingly, only 20% of OEMs have begun to implement compliance plans for the EU Cyber Resilience Act, despite looming penalties set to enforce in 20 months. Furthermore, it’s alarming that nearly half of product launch delays are attributed to software-related issues such as bugs, deployment challenges, and necessary security updates.

A major theme from the report is the immaturity of device lifecycle management (DLM) practices within the market, as over a third of respondents cite a lack of prioritization as the main hurdle to establishing a robust DLM process. In a rapidly evolving environment where software integration is crucial, OEMs are urged to abandon outdated physical-product-based strategies.

The Software-First Paradigm

In today's context, software is not merely an added feature; it is at the core of product value and customer retention. This shift demands that OEMs develop new methods of managing their comprehensive array of embedded systems throughout every stage, from development to long-term service and support. Eystein Stenberg, Co-founder and CTO of Northern.tech emphasizes that transitioning to software-defined products is not just about recognizing the change, but rather requires scalable infrastructures capable of handling the associated complexities. OEMs must embrace software-first strategies for product design and development, alongside revenue models that can accommodate the ongoing needs of software-driven offerings.

Addressing Compliance and Cybersecurity Concerns

One of the most pertinent issues highlighted in the report is the gap between awareness of compliance and actual proactive measures taken. Although manufacturers recognize the importance of being compliant with cybersecurity regulations, a significant number lack sufficient execution plans. Alarmingly, one fifth of the surveyed OEMs do not have a compliance plan in place at all, while another fifth remain uncertain about which laws and standards apply to them. This disconnect is troubling, especially as less than a quarter of OEMs can deploy updates to address vulnerabilities promptly.

Actionable Insights for the IoT Ecosystem

As IoT technology and connected devices continue to evolve, manufacturers are slowly beginning to grasp the necessity of adapting to this new reality. The journey toward software-centric operations introduces an array of challenges that OEMs must successfully navigate to remain competitive and derive value. This report serves as a necessary benchmark to help OEMs assess their current progress, identify new risks, and adopt effective strategies being employed by market leaders to thrive in a software-first economy.

Conclusion

In conclusion, the State of Industrial IoT Device Lifecycle Management report by Northern.tech encapsulates vital findings that OEMs cannot afford to overlook. As the landscape leans increasingly towards software, these organizations must rise to the occasion, enhance their lifecycle management practices, and integrate robust security and compliance measures into their product strategies to secure their future in the IoT domain.