Analysts are expecting the IoT market to grow rapidly in the business-to-business market, fueled by the growing popularity of consumer-oriented IoT products and services.

Data storage solutions providers could start to tap into this market by focusing on data analytics and how big data is handled.

The implementation of IoT capabilities is going to bring a massive amount of data into the hands of customers. The data generated by IoT is increasingly vast, messy, scattered, and on the move. If customers don't have the right solution providers to make sense of it, the data is useless.

When companies and organizations begin to struggle with how to make sense of the data and where to store it all, VARs should be ready to pounce.

The world of IoT will contain a tremendous amount of sensors across the IT landscape. Data will be coming from every imaginable source and often not just sensors, but networks and mobile devices.

By learning about Wi-Fi use patterns and adoption, VARs should proactively plan to increase Wi-Fi capacity, improve customer's business operations and uncover new revenue opportunities, such as how to tailor pricing plans based on customer usage.

VARs should grow and improve their wireless capacities. More IoT devices implemented means more money available for wireless solution providers.

"Everything in the world of IoT or at least a big portion of it is about the power of partnership," said Andres Sintes, senior director of worldwide partner organization, networking and IoT/IoE solutions. Having the right expertise within your company to be able to fully integrate the worlds of Operational Technology (OT) and Information Technology (IT) is critical.

"The opportunity is in the convergence of both IT and OT," said Sintes. "You don’t need to be fully capable on either side to enter into this market opportunity, but you do need to understand how to partner best with the folks that have the right strength to line up the right solutions."

VARs should start investing in organizations outside of the norm if they want to see large margins quickly. Bring into your portfolio industry experts from fields such as of lighting, ventilating or heating so you can truly under the OT side of things.

"A lot of the IoT is now stating to create other opportunities and dragging in more IT services and technologies along with it," said Lurie. "All those different systems out there – HVAC, lighting, controls for electrical grid – each one of them has a voice … (VARs) need to have different skillsets they're not typically use to."