Three in four businesses collect IoT data

IOT Internet of Things devices

It looks like 2017 will be a great year for Internet of things industry. 451 Research's new report says that almost three quarters of all businesses worldwide, 71 percent of them to be exact, are gathering IoT data today.

The report is based on a survey of 1,000 organizations, scattered all over the globe. The best part about this figure is that it represents a three percent jump compared to its last report, which was released a quarter ago.

Not only is the number of organizations employing IoT growing, but spending is also expected to see a significant rise.

According to the report, IoT-related spending is expected to grow by a stunning third (33 percent) in the next 12 months. Enterprise initiatives, related to data and transactional intensive workload categories (for example, security, or data analytics) will see the biggest growth of IoT. Collecting data from financial industries, healthcare industries, industrial, they'll all see an uptake in IoT.

"When it comes to IoT adoption, pragmatism rules", says 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".

However, the same old fears are still present. Half of organizations surveyed (50 percent) are worried about the security of data gathered, and more than four in ten (41 percent) claim there are very few benefits of IoT, or that the return on investment (ROI) is lacking.

The full report, entitled Internet of Things (IoT) Organizational Dynamics, can be found on this link.

Published under license from ITProPortal.com, a Future plc Publication. All rights reserved.

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