56 percent of respondents cite big data as the driving force behind their IoT deployments.
Most businesses have deployed the IoT in some capacity, and list security, cost savings, and data integration as their largest challenges, according to the IoT 2016 Deployment Trends and Usage Survey conducted by Strategy Analytics.
The survey polled over 350 businesses from 23 vertical markets around the world including healthcare, IIoT, manufacturing, retail, smart buildings, banking, and academics.
Some 41 percent of respondents said integration with legacy systems and security were their biggest impediments. Only 13 percent felt that IoT deployment would strengthen their security and 56 percent cited security as their biggest concern. Nearly half the businesses surveyed said they had not yet completed a detailed cost analysis for their IoT project.
“While Data Analytics emerged as the top reason for an IoT deployment, a significant percentage of companies struggle with how to analyze that data to benefit their business,” explained Andrew Brown, Strategy Analytics executive director of enterprise and IoT research. “The data deluge is problematic; over 50 percent report that they have too much data to be able to analyze it efficiently.”
The report also found 44 percent of respondents said they do perform data analytics but think they could be doing a better job, and 31 percent don’t store or do any analytics on IoT data at all. Other key insights include:
- 80 percent of respondents said they either use or plan to start using the IoT within the next 3-12 months.
- Only 25 percent of respondents have full end-to-end IoT deployment
- The most used IoT services are security/video surveillance, smart buildings, financial analytics and healthcare analytics.
Although IoT adoption continues to grow, users will need to make a concerted effort to work with vendors, consultants and other experts get the training they need to realize its full potential, according to the report.