IoT – Majority of Enterprises See Strong Cases for IoT Adoption

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IoT – Majority of Enterprises See Strong Cases for IoT Adoption

Recent research from Omdia reveals that a majority of companies are focusing on the use of IoT solutions

The study “Connected Everything: Taking the I Out of IoT,” was conducted across 200 enterprise executives in North America and Europe in several vertical industries already deploying IoT. The industries ranged from financial services to health care and hospitality. As per the report, most of the companies are focusing on the concerns and opportunities around the Internet of Things. A significant number of companies are witnessing strong business cases for IoT adoption as part of a broader digital transformation process. The majority of respondents cited improved customer retention, enhanced productivity, and high efficiency as their highest objectives.

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Companies are working towards expanding the use of IoT solutions; however, to realize this potential, they need to secure, easy-to-deploy and flexible ways to support IoT integration with their businesses and processes. The report also notes a major growth in the role of expert third-party suppliers that have helped businesses in tapping new opportunities available via a bigger global IoT connectivity.

Half of the executives identified data, network, and device security as the biggest challenges to IoT adoption, the study found. Moreover, half of them also said they prefer putting IoT devices on their own private networks to tackle IoT security concerns. Nearly all respondents said they are either considering or are currently using a private network for their IoT deployments.

Other top challenges for IoT adoption in the enterprise were integration and security concerns, the study found. Nearly 45% of respondents said integration with legacy IT and networks are challenging, while 40% cited integration with business processes as a major challenge. As per the report, if enterprises plan to embrace IoT in its full capabilities, they will face issues including IoT concerns, providing technical solutions, consulting services, and a transparent approach to IoT security.

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IoT adoption comes with its challenges for companies; however, experience, network reach, and technology expertise can be instrumental in addressing their concerns. Using private networks to avoid the inherent risks of the public internet is a viable but technically complex approach. Today, enterprises are eager to adopt and realize the economic and productivity benefits but understand they can’t go it alone in their deployments.