Things are looking up for the Internet of Things. 80% of organizations have a more positive view of IoT today compared to a year ago, according to a survey of 512 IT and business executives by CompTIA. “This reflects greater levels of attention from the C-suite and a better understanding of how the many different elements of the IoT ecosystem are starting to come together,” says CompTIA. Here are the highlights from this and other recent surveys:
How big is the IoT and how fast is it growing?
The number of connected things, from computers to household monitors to cars, is projected to grow at an annual compound rate of 23.1% between 2014 to 2020, reaching 50.1 billion things in 2020.
What is the IoT?
In the minds of the business and IT executives surveyed, the IoT is associated with “ever-greater levels of connectivity; more intelligence built into devices, objects, and systems; and a strong data and applied learning orientation.” These views “sync-up well with the macro trends of more powerful and pervasive computing and storage, the further blurring of the physical and the virtual and the harnessing of big data for real-world functional activities.”
What is the current level of IoT adoption?
60% of organizations have started an IoT initiative, 45% of which were funded by a new budget allocation. An additional 23% of companies plan to start an IoT initiative within a year. In another exploration of the state-of-IoT, about 90% of the 500 executivesBain surveyed said they remain in the planning and proof-of-concept stage, and only about 20% expect to implement solutions at scale by 2020.
What is the perceived impact of the IoT compared to other new technologies?
The IoT leads other much-discussed technologies, including robotics and artificial intelligence, as the technology that is having the most impact on the business.
(by Gil Press / forbes.com)