Enterprise Management Associates (EMA), an IT and data management research and consulting firm, released this week a new research report titled “The Rise of the Internet of Things: Connecting Our World One Device at a Time,” based on criteria defined by John Myers, managing research director of business intelligence and data warehousing at EMA, and Lyndsay Wise, research director of business intelligence at EMA.
This new research report provides in-depth insight into the recent EMA global end-user study on the Internet of Things by examining different aspects of IoT, including strategies, implementations and projects. Based on a panel of 250 IT and business professionals, the research extracted knowledge from decision makers with visibility into strategy, budget, and implementation associated with their organization’s IoT initiatives.
IoT is a growing concept in terms of exposure and implementation. There are new estimates for the number of linked devices almost every quarter. Some of these estimates go as far as to say that within five years, there will be nearly 40 billion connected devices around the globe. With this growth in the number of connected devices, there is a wave of adoption to take advantage of these devices.
Tthe panelists provided information on over 700 different projects that implemented the strategies from IoT initiatives. Moreover, the research also explored various industry segments like healthcare, manufacturing, retail, and transportation. Each of these segments provides a unique opportunity to utilize IoT architectures and IoT devices to add value into its respective organization.
The survey revealed that almost 65 percent of respondents indicated that data-driven strategies were “vital” or “important” to their organizations; nearly 33 percent of respondents indicated that process efficiency in the form of increasing product or service quality and the increase of customer satisfaction were the driving business reasons for implementing an IoT ecosystem; close to 30 percent of respondents indicated that increasing analytical capabilities in the form of facilitating discovery of new operation processes (14.4 percent) or enabling new analytical domains (14 percent) were the technical drivers associated with IoT strategies.
Privacy issues at 20.5 percent and device users uncomfortable with data collection at 19.1 percent were the top two obstacles associated with IoT implementations.
