Penton’s IoT Institute, a new business unit focused on the rapidly-growing world of the Internet of Things (IoT), today unveiled new research which finds privacy and organizational readiness are the primary challenges of implementing IoT.
Paul Miller, Group President at Penton, commented:
While security and data privacy were cited as key concerns, the majority of respondents view IoT as an opportunity to achieve multiple business outcomes, including insights from data analytics, improving customer service & engagement, improving productivity uptime, faster response times to urgent situations and operational efficiency via asset tracking and automation of manual processes. With only a third of industry professionals very or extremely familiar with IoT, the IoT Institute and our upcoming event – IoT Emerge – will provide the industry with best practices and insights to drive practical and measurable results.
Additional key findings include:
- Cross functional teams – including IT, Executives, Operations, Engineering, Consultants/System Integrators and Facilities/Building Managers – are critical for IoT success.
- Networking and M2M communications are the most commonly used technologies for IoT applications, followed by cloud computing and data analytics.
- IT professionals are interested in IoT education to achieve business outcomes. Seventy one percent would like to learn about the relevance and value of IoT for their organizations, while 65% believe that organizations that leverage IoT will have a significant advantage.
The study surveyed nearly 1,000 executives, technical & operations professionals across several vertical markets to take a benchmark pulse on the IoT business and public sector markets. The top vertical markets surveyed were manufacturing, engineering, IT, government, energy, aviation and professional services. The objective of the study is to gain insight into familiarity and involvement levels with the IoT, the collaborative IoT evaluation and buying process, obstacles to adoption rates and viewpoints about the benefits and opportunity with the IoT.