- the Internet of Things
- smart cities
- Cyber Security
- Smart Buildings
Invisible or Not, the IoT Revolution Is Mainstream
Most revolutions make a lot of noise and supply plenty of visuals. But there is a quiet and invisible revolution taking place that breaks from the norm. It is called the Internet of Things (IoT), and enterprises are stoking this uprising all over the world according to a new Microsoft survey. This so-called invisible rebellion is expected to touch 94% of enterprises in 2 years, the survey says, meaning it has reached mainstream status.
Already, 85% of enterprise decision makers have adopted IoT solutions in their organizations and 74% say they have projects in the use phase, according to the survey. More importantly, survey respondents believe they will see a 30% ROI from their IoT projects. The survey was conducted among nearly 2,500 business and IT decision makers and more than 700 developers that work at firms of 1,000 employees or more in the US, China, Japan, Germany, the UK, and France.
“We’re living amid an invisible revolution driven by IoT. This revolution goes far beyond the smart speakers and thermostats in homes and includes billions of connected devices and sensors that are transforming every industry on the planet, from manufacturing to energy distribution, from smart cities to smart agriculture, from smart buildings to smart medical equipment, and so much more,” says Sam George, head of Microsoft’s Azure IoT. “IoT is also starting to have a profound and beneficial impact on the planet, reducing energy and natural resources and improving sustainability.”
Barriers to IoT Adoption
Despite the hidden gains for IoT, there are several hurdles corporate managers need to keep in mind. The study notes security threats, project complexity, and a skills gap as barriers to adoption. The leading security concerns among respondents are network-level security (43%), device tracking and management (38%), and endpoint security (38%).
Among respondents whose firms had adopted IoT solutions, 38% say complexity and technical challenges in using IoT represent a lingering barrier to further adoption. Nearly half of respondents (47%) say there are not enough available skilled workers with the talent and training needed to help meet the goals of IoT projects.
IoT Continues to Grow
The invisible IoT revolution continues to flourish even with these hurdles, which should be no surprise to many clients and readers of this blog. Navigant Research has followed the trend for several years—see the IoT for Small and Medium Buildings report, or check out this blog for more information. The IoT revolution might be hidden to some, but for others it is mainstream and growing in scope.