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Businesses Are Getting Ready for the IoT, Survey Finds
A growing number of business professionals understand the IoT and are taking steps to incorporate it into their companies, a QuinStreet Enterprise survey found.
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Getting a Handle on a Big, Broad Issue
Three-quarters (75 percent) of survey respondents said they understand IoT and its applicability to their businesses well or very well.
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IoT Will Be Felt Inside the Business
Almost half—49 percent—see the Internet of things as being important or critical to the growth and success of their businesses.
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Getting Ready for the Onslaught
Six in 10 large organizations already have IoT programs in place or have plans to adopt IoT within the next two years.
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There is a Lot of Motivation Behind the Initiatives
Issues around innovation, revenue and competition are the primary drivers of early adopters embracing IoT.
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Customers, Employees Are the Focus of IoT Efforts
According to the survey respondents, the top business goal of adopting IoT technologies is to improve the customer experience. Other top goals include operational and cost efficiencies, improved tracking and analytics, and enhanced employee productivity.
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Challenges to IoT Adoption
The top challenges include—not surprisingly—security concerns, other priorities within the company and concerns over costs.
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The Business Side Often Is Driving the Bus
Among early adoption organizations, 43 percent of respondents said that business leaders are the primary drivers of company IoT initiatives.
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IT Plays an Important Role as Well
Among 57 percent of early adopters, IT is viewed as the "leader" or a "collaborator" with other groups in getting IoT initiatives going.
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In-House Development Will Be Important
Four in 10 companies are planning to develop most of the components for their IoT initiatives themselves rather than go outside for the help.
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Going to the Internet for Information
Sixty percent of respondents said tech content sites are the most important sources of information when creating an IoT initiative.
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It's difficult to talk about the future of business and technology without discussing the Internet of things (IoT). The forecasts vary, but almost all analysts and vendors agree that the number of smart, connected devices worldwide will only grow—according to Cisco Systems and Intel, to more than 50 billion by 2020. At the same time, IDC analysts predict that IoT spending will rise 17 percent a year, from $698.6 billion last year to almost $1.3 trillion in 2019. While much of the early focus on IoT has been on consumer products—such as home appliances and security systems—the real benefits will be in business, where smart systems, devices and sensors will give companies massive amounts of data that they can crunch and analyze to quickly churn out informed decisions on everything from business to manufacturing to medical procedures. QuinStreet Enterprise—which publishes a number of news Websites,...
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