More than nine in 10 companies will be utilising IoT by 2018, claims survey
A new survey of business leaders undertaken by the Telecommunications Industry Association (TIA) found that over 90% of companies will be utilising IoT technologies by 2018.
TIA serves as the face of manufacturers and suppliers of high-tech communications networks. The survey found that nearly half of US businesses are actively using IoT while another 43% are set to deploy IoT solutions within the next two years.
Andy Castonguay, principal analyst at Machina Research and author of the study, said: “The exciting takeaway is that US companies have begun embracing the strategic and tactical value that IoT data contributes across the enterprise. The study results point to the fact that a critical mass of US enterprises has started to engage IoT solutions to enhance product design and development, inform operations and customer service, and enhance profitability.”
On average, companies anticipate earmarking 44% of IT budgets in 2020 for IoT development and maintenance. Close to all businesses believe the that gaining real-time data from products would be an overwhelming advantage while 72% spoke about plans to use IoT to capture data on product feature usage.
TIA chief executive Scott Belcher said: “While much of the IoT talk has focused on consumer applications, its use in enterprise could significantly impact nearly every aspect of modern business. This study makes it clear that companies have begun to recognise this potential, and whether they are an IoT leader or a follower, they are making it a priority.”
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.
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