IT execs skeptical that IoT will benefit the bottom line in near term
Only one-third of IT industry execs believe that the Internet of Things will improve their bottom line over the next one to two years, according to a survey of 381 IT execs by IT industry trade association CompTIA.
Around 58 percent of respondents are either uncertain or don't think IoT will improve their bottom line.
A full 80 percent have taken some action to understand IoT opportunities, but a majority of respondents believe the hype surrounding the IoT market has gotten ahead of itself.
These actions include following IoT news stories, reading research or market intelligence reports, having discussions with customers, having internal strategy discussions, receiving information from vendors or distributors of IoT products, investigated offerings of IoT providers, and attending conferences, presentations or webinars on IoT.
The CompTIA survey identified a number of areas where IoT is expected to have the greatest impact in the long term: controlling and monitoring newly connected devices or systems (53 percent), collecting new streams of data (46 percent); adding intelligence to previously "dumb" devices or systems (46 percent); and creating new value from connected systems (42 percent).
"The data points to IoT advances on many fronts, but also confirms that like many markets for emerging technologies, it will take time for IoT to develop. Many facets of IoT – standards, governance, security and privacy issues, skilled workers and other matters – need to fall into place before the market can truly blossom," said Tim Herbert, senior vice president for research and market intelligence at CompTIA, in a statement.
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