Study Suggests Lack of Analytical Capability is Slowing IoT Adoption | | Business Technology
Despite the rise of the IoT, less than 40 percent of organizations are currently deploying smart infrastructure at full scale. This number varies significantly by industry, with industrial manufacturing, not surprisingly, at the top. While 62 percent of industrial manufacturing companies implement the IoT at full scale, the number drops to 46 percent for the second-place industry: Retail. Telecommunication companies are adoption full-scale IoT technology at a rate of 38 percent, followed closely by consumer products at 36 percent and energy and utility companies at 35 percent. Surprisingly, automotive companies came it at merely 17 percent.
Pilot IoT programs are popular, but respondents unveiled a number of factors preventing the move from pilot programs to wider adoption. Important concerns relating to cybersecurity and data privacy were cited by 62 percent of respondents, while 60 percent expressed concerns that their current analytical capabilities couldn’t leverage IoT-derived data. Fifty-seven percent of companies expressed a similar concern that their current data landscape was incompatible with the task of managing IoT data, and another 57 percent cited uncertain regulations and standards as a reason for slow adoption. Fifty-three percent of those surveyed were concerned about their general technological readiness, while a further 49 percent didn’t see a clear business case for adoption IoT technology.