Penton’s IoT Institute released new research that finds privacy and organizational readiness are the primary challenges of implementing Internet of Things (IoT). The firm also revealed that cross functional teams including IT, executives, operations, engineering, consultants/system integrators and facilities/building managers – are critical for IoT success.
Networking and M2M communications are the most commonly used technologies for IoT applications, followed by cloud computing and data analytics.
IT professionals are interested in IoT education to achieve business outcomes. Seventy one percent would like to learn about the relevance and value of IoT for their organizations, while 65 percent believe that organizations that leverage IoT will have a significant advantage.
Penton’s IoT Institute is a new business unit focused on the IoT segment that comes with an online community and live events franchise focused on practical B2B applications in IoT. The IoT Institute provides actionable case studies, insights, research, and e-learning on the industrial and cultural phenomenon that’s changing the shape of business and cities. The IoT Institute’s mission is to enable cross-industry and cross-job function learning to drive business performance.
The study surveyed nearly 1,000 executives, technical & operations professionals across several vertical markets to take a benchmark pulse on the IoT business and public sector markets. The top vertical markets surveyed were manufacturing, engineering, IT, government, energy, aviation and professional services.
The objective of the study is to gain insight into familiarity and involvement levels with the IoT, the collaborative IoT evaluation and buying process, obstacles to adoption rates and viewpoints about the benefits and opportunity with the IoT.
Market research is a core element of IoT Institute’s portfolio of information services and education for industrial IoT, smart cities, smart buildings, energy and IoT engineering. The IoT Institute will unveil additional research this year on industrial IoT, IoT for buildings, IoT engineering and IoT standards and interoperability.
“While security and data privacy were cited as key concerns, the majority of respondents view IoT as an opportunity to achieve multiple business outcomes, including insights from data analytics, improving customer service & engagement, improving productivity uptime, faster response times to urgent situations and operational efficiency via asset tracking and automation of manual processes,” said Paul Miller, Group President, Penton. “With only a third of industry professionals very or extremely familiar with IoT, the IoT Institute and our upcoming event – IoT Emerge – will provide the industry with best practices and insights to drive practical and measurable results.”