New research has revealed that almost three-quarters of companies are now capturing data for the Internet of Things (IoT), but that concerns about security and return on investment remain high.
According to 451 Research’s ‘Voice of the Enterprise: Internet of Things (IoT) Organizational Dynamics’ survey of nearly 1,000 enterprise IT buyers around the world, 71 per cent of enterprises are currently gathering data for IoT initiatives.
This is a three per cent rise from the previous quarter’s ‘Voice of the Enterprise: IoT Workloads and Key Projects’ survey.
Security is still the biggest concern, with 50 per cent of those surveyed saying it is the top obstacle to IoT deployments. A further 41 per cent of survey respondents named a lack of return on investment and benefits as an inhibitor.
However, the research revealed that organisations are pushing forward with IoT initiatives and releasing funding to support the deployments. It was found that enterprise IT respondents with IoT initiatives already underway expect their IoT-related spending to grow by an average of 33 per cent over 2017.
The research found that IoT deployments and usage will be particularly high in enterprise initiatives around data and transactional intensive workload categories, including data analytics and security.
It was also found that there is a distinct and significant portion of IoT transitions occurring “organically” as enterprises’ IT systems, networks and infrastructures are naturally becoming IoT-enabled by intelligent sensors and predictive analytics capabilities embedded in IT equipment, such as devices, servers, applications, smartphones and routers.
“When it comes to IoT adoption, pragmatism rules,” said Laura DiDio, research director at 451 Research and lead author of the study. “The survey data indicates enterprises currently use IoT for practical technology purposes that have an immediate and tangible impact on daily operational business efficiencies, economies of scale and increasing the revenue stream.”