IoT executive
11 Things IoT Solution Providers Should Know
An exclusive QuinStreet Enterprise survey of IT and business professionals finds that projects relating to the IoT are becoming a priority.
Familiarity With IoT
A full 75% of executives say they understand IoT concepts either “very well” or “pretty well.” That compares with 64% for IT staff and 62% for the business side. App developers trailed at 55%.
IoT Momentum
Nearly half (49%) identified IoT as either important or critical to their future growth strategies. Six in 10 large enterprises already have or have plans to adopt IoT within the next two years. Even those in companies with no plans for IoT still admit (32%) that IoT is worth exploring further.
IoT Adoption Rate
While 15% describe themselves as early IoT adopters, another 14% say they are on track to deploy IoT solutions within a year. A quarter (25%) say they will deploy IoT solutions within two years.
IoT Impact
A full 70% say they expect the impact of IoT to either be huge or considerable.
Primary Motivation for Investing in IoT
The pursuit of innovation is cited most often (20%), followed by just plain curious about the possibilities (15%).
Primary Drivers of IoT Adoption
Who are the drivers of IoT adoption? IT and operations teams in tandem is cited by 26%, followed closely by IT alone (25%) and corporate (24%). In 43% of early adopters, business leaders are the primary drivers of their IoT initiatives. Yet 57% of early adopters perceive IT as the “leader” or “collaborator” with other groups.
Benefits of IoT Investments
Enhancing customer experience was cited by more than half (57%), followed by increased operational efficiency (52%) and cost efficiency (50%).
Obstacles to IoT Adoption
Security concerns topped the list of obstacles to adoption, at 43%, followed by competing initiatives that are considered a higher priority (42%). Cost concerns came in at 38%.
Third-Party Data Agreements
A full 41% of early IoT adopters note they have already put third-party data sharing and integration agreements in place.
Maturity of IoT Policies
41% say they have a clear set of defined policies in place for managing IoT data. Another 46% say they are working on developing these policies.
Build vs. Buy for IoT
Only 40% plan to develop most components in-house for their IoT initiatives. The other 60% cite reliance on external consultants, software business partners and hardware vendors.