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Key points from this Infographic

IoT initiatives have stalled, suggesting challenges are impeding success
  • Less than one-quarter of organizations have reached the stage where IoT initiatives are transforming business processes, services and products. The vast majority are in the preparatory (consideration and planning) or pilot stages.
  • Half of organizations surveyed cite increased exposure of data / information security as the biggest challenge to realizing IoT potential.
  • Other early stage concerns, such as return on investment  / making the business case and interoperability with current infrastructure/systems, round out the top three risks/challenges on IT and business leaders’ minds.
  • One-third of respondents indicate finding the right staff / skill sets is also a challenge.
Despite lagging implementation, significant digital transformation is expected
  • The majority of organizations (55 percent) expect IoT initiatives to have a high level of impact on their business over the next five years.
  • Long-term expectations for IoT include outcomes that will drive digital transformation within the business, such as creating a better user and customer experience, and sparking innovation.
  • Technology (e.g., data management and analysis, and infrastructure management) is the top focus for nearly one-third of organization’s IoT initiatives, followed by products or services.  
Most organizations are not highly confident in their in-house preparedness
  • Less than 4 in 10 IT and business leaders think their organization’s internal resources are very well prepared to complete each phase of an IoT initiative.
External partnerships are critical for IoT success
  • Approximately one-third of IoT project needs will require support from external vendors versus internal resources.
  • Eighty-five percent of respondents would value a services provider that can guide internal IT and business teams through IoT initiatives.