The Internet of Things (IoT) will go “from good to great” by 2019, according to Aruba Networks, a Hewlett Packard Enterprise company.
For a new report, Aruba Networks surveyed 3,100 line-of-business and IT professionals from around the world.
The study revealed that expectations of the IoT are high, but that those who implement the IoT in the right way have found their expectations surpassed. A total of 88 per cent of respondents have reported that they have already seen a return on financial investment.
Aruba Networks said it therefore appears that the IoT is “good for business efficiency, innovation and profitability”.
The report found that today, over half (57 per cent) of companies have already adopted IoT technology, and by 2019 that number is expected to reach 85 per cent.
However, it was also revealed that although the IoT is growing, there is some confusion around the technology. The survey found that there were conflicting definitions of what the IoT means, what IoT devices are connected and how to extract value from them.
A total of 67 per cent of respondents said that IoT was ‘adding internet connectivity to everyday objects’. Other popular definitions stated for the IoT included ‘a network that connects multiple objects, devices and sensors’ (65 per cent), ‘a platform to connect industrial components’ (55 per cent), ‘automating building services’ (52 per cent) and ‘using wearable technology’ (46 per cent).
It was also found that many organisations have failed to ensure they are implementing the right measures to protect their networks and those devices connected to them.
Aruba Networks found that many of the IoT devices in use today are inadequately secured, which then leaves organisations vulnerable to attacks. The company emphasised that this is an immediate issue impacting organisations today, pointing out that 84 per cent of those surveyed have experienced an IoT-related security breach.