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

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PHOENIX�-�Media OutReach�-�3 January
2019 -�Internet of Things (IoT) and
sensor technology experienced remarkable double-digit growth in 2018, yet
security for IoT continues to be the greatest challenge for electronic product
developers to overcome, according to new research from Avnet (Nasdaq:�AVT), a
leading global technology solutions provider.

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

For this latest Product Developer Index, the
company surveyed 1,190 members of the 1.3 million strong Hackster.io and element14
engineering communities to understand where they are focusing their development
efforts, what the challenges are, and what has changed over the past year.

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

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

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

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

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

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

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

"These trends suggest that having one partner who
can offer critical design, development and manufacturing capabilities can be
invaluable to the go-to-market strategy," Badhorn added. "At this time of rapid
innovation, developers seek the best of both worlds -- a comprehensive
ecosystem that allows for the flexibility and options developers desire, with
the streamlined support and cost benefit of a single partner."

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About Avnet

Avnet
is a global technology solutions provider with an extensive ecosystem
delivering design, product, marketing and supply chain expertise for customers
at every stage of the product lifecycle. We transform ideas into intelligent
solutions, reducing the time, cost and complexities of bringing products to
market. For nearly a century, Avnet has helped its customers and suppliers
around the world realize the transformative possibilities of technology. Learn
more about Avnet at www.avnet.com.

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