IoT initiatives deliver measurable ROI. Are you ready?
Aruba and Kevin Ashton, technology pioneer and the creator of the term “IoT,” conducted a global study on the state of IoT adoption across industries. Over half of the respondents already have an IoT strategy in place to prepare for billions of connected devices and view it as necessary to remain competitive. Of those who have deployed IoT, more than half are reporting significant ROI results.
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Do you know what’s connecting to your network today?
While businesses recognize that IoT is critical to success, security bubbled up as the number one issue with over half of study respondents reporting the fear of an external attack being a key barrier to IoT adoption, and 84% reporting that they’d already experienced an IoT-related breach.
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Healthcare-related IoT is improving patient care and providers’ ROI.
Within the healthcare industry, respondents are seeing a ROI of over 40%, with a 33% increase in IoT devices – patient monitors, power generators and meters, and imaging/x-ray machines – expected to connect in the next two years. The challenge will be how to incorporate this influx of IoT devices with legacy network infrastructures.
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Bridging the digital and brick and mortar experience with IoT in retail.
88% of retailers said that IoT has increased business efficiency and has allowed greater engagement with shoppers. Although more than half have seen a return of up to 40% on their IoT investment, retailers worry about keeping their network and customer data safe amidst IoT-related breaches.
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The IoT powered smart office boosts efficiency and innovation.
IoT can deliver smart spaces – intelligent conference rooms, location services, and real-time monitoring are just a few of the applications that make the workplace more efficient and productive. Across all verticals, 81% have seen notable increases in business efficiency and innovation as a result of IoT adoption.
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IoT accelerates efficiencies of Industry 4.0.
The top benefits of Industrial IoT are business efficiencies, IT organizational productivity and innovation. Industrial IoT investments have driven returns with more than three-quarters saying they’ve achieved a ROI of up to 80%. However, the IoT payoff comes with challenges, the top one being the difficulty integrating new technology with legacy systems.
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IoT will transform how we live.
78% of city leaders believe that IoT is in its infancy and will transform how we live in the future. However, the main challenge will be to manage the large volume of IoT data and to create value from it. Municipal respondents said that the next biggest challenge was moving server compute to the edge to gain faster insights.
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IoT, reality or pipe dream?
There’s no doubt that IoT offers huge potential for ROI in the enterprise, industrial, and smart city environments. But how much is reality versus hype?
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