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IoT adoption in the enterprise is up from 2017, according to Dresner's 2018 IoT Intelligence Market Study. Released last week, the report stated that 32% of enterprises are investing in IoT and 48% are planning to in 2019.
“Although current usage remains at lower levels, we see a slight warming toward IoT adoption up from 2017,” Jim Ericson, VP and research director at Dresner Advisory Services said. “We expect that overall adoption will grow as more widely applicable use cases and services for IoT become apparent.”
The importance of IoT Intelligence
Dresner stated that the majority of IoT investments will focus on data analytics rather than infrastructure or data supply chains. IoT Intelligence incorporates artificial intelligence into IoT applications to find insights in data.
“While the market is still in an early stage, we believe that IoT Intelligence, the means to understand and leverage IoT data, will continue to expand," Howard Dresner, founder and chief research officer at Dresner Advisory Services said. This is a result of organisations maturing in their "collection and leverage of sensor level data,” he added.
IoT early adopters lead the way
Dresner also concluded that early adopters of IoT lead their industries in advanced and predictive analytics. According to the data, IoT early adopters become more familiar with emerging technologies in order to scale across analytics platforms.
In addition to this, IoT early adopters differ most in the prioritisation of analytics. The data found that early advocates tend to focus on dashboards, reporting, advanced visualisation, data mining, and IoT use cases that provide data streams integral to analytics.
CIOs warn that IoT could become a “major burden”
Last week, Dynatrace revealed that the exponential complexity of IoT could damage a company's performance. The software intelligence firm has released a report outlining the major concerns of CIOs when it comes to implementing IoT.
Dresner found that manufacturers see IoT as the most critical component in achieving their overall goals. Despite this, Dynatrace revealed that 74% of CIOs worry that IoT performance will directly impact business operations and damage revenues.
Looking to innovate with IoT? Take a look at this year's Top 10 IoT Influencers for inspiration