1IoT to Have Growing Impact on Businesses, Industries, Survey Finds
2IoT Will Be Important to Businesses
3Taking an Outward Look
When asked about the IoT’s impact on their industries over the next five years, 70 percent it will be huge or considerable, 19 percent said it will be small, 10 percent said five years was too soon for an impact, and 2 percent said there would be none. The numbers were fairly consistent among a range of industries, including financial services, technology, manufacturing, education and health care.
4Off to a Fast Start
5A Lot of Motivators for IoT
Top among them is innovation, with 20 percent of respondents pointing to it. That was followed by such aspects as curiosity, revenue growth, competitiveness, new business discovery and operational efficiency coming in at between 11 percent and 15 percent. Only 3 percent pointed to cost efficiencies.
6Input from Everyone
7The Corporate Side Is Pushing the Needle
To a great extent, executives are leading the charge into IoT, particularly at early adopters. When asked about the primary driver of their IoT initiatives, 43 percent of respondents in early-adopter organizations said corporate is leading. In addition, 75 percent of all respondents said that at their companies, executives know the IoT either very or pretty well.
8Who Else Knows About the IoT?
9Customers Are the Top Concern
10Greater Efficiencies Were Up There, Too
11The IoT Doesn’t Come Without Challenges
Asked to list obstacles to IoT initiatives, 44 percent said security while 43 percent pointed to higher priorities. There also were cost concerns (38 percent) and complexity (36 percent). A lack of skills (30 percent) and understanding of the IoT (29 percent) also ranked high.