State of the Market: Internet Of Things 2016
Oxford Economics surveyed 500 early adopters of IoT across different industry sectors and carried out in-depth interviews with nine IoT pioneers to understand their experiences implementing IoT. The survey investigated progress made implementing IoT, the financial business case, along with actual and expected performance improvements. The survey also explored the constraints that are holding back these early adopters. The survey results and interviews were important research inputs to Verizon's report. Key findings include:
* Companies across all industries now have IoT squarely on their radar.
* A growing IoT market is enabling organizations from every industry to comply with regulations, increase process efficiency, gain better customer insight, and build completely new business models.
* IoT platforms are making the development of IoT applications easier, faster, and cheaper for everyone.
* Analyzing IoT data remains a difficulty; only 8% use more than 25% of the IoT data they capture.
* Security, organizational and cultural change also remain significant constraints.