The biggest challenge to adopting IoT? Identifying ROI
The biggest challenges companies have with implementing IoT technologies is not security but rather identifying ROI.
This is according to a new report by Canonical, entitled Defining IoT Business Models, which polled 360 IoT professionals, including devs, vendors and enterprise users, more than half (53 percent) say "quantifying ROI and providing a clear use case" is currently their biggest challenge.
So, it’s currently more important than the lack of available infrastructure (40 percent), or the need for improved device security (45 percent).
The report also states that a third (34 percent) of IoT pros think "quantifying the business benefits" should be their top priority to encourage greater adoption of the Internet of Things.
Here’s how the report’s list looks:
- Quantifying ROI -- 53 percent
- Device security and privacy -- 45 percent
- Lack of IoT infrastructure -- 40 percent
- Lack of budget/investment in IoT -- 34 percent
- Ensuring integration with the wider ecosystem -- 29 percent
- Device management / long-term support -- 26 percent
- Resistance from within the organization -- 25 percent
- Ensuring regular updates are installed -- 12 percent
"The early internet of things was something of a gold rush, with vendors and developers jumping in to secure their share of an exciting and rapidly growing new market," said Mike Bell, EVP of IoT and devices at Canonical.
"Unfortunately, many of these businesses simply didn’t understand or evaluate how the IoT was going to deliver value -- and apparently -- the majority still don’t."
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