IoT is capturing less than 10% of enterprise IT budgets, Strategy Analytics survey reveals
According to the latest enterprise IoT survey research from Strategy Analytics, despite the much heralded potential of IoT, spending and deployments are conservative, as companies get to grips with IoT.
Andrew Brown, executive director, said that “Our survey data derived from 1200 companies, paints a picture of an industry trying to understand and learn about IoT. Deployments are conservative, spending is not consuming a significant portion of IT budget yet and firms are very conscious of security issues and just how much money IoT is going to cost them.”
Strategy Analytics has released a series of country and ongoing vertical industry reports illustrating:
- IoT solutions are currently driven primarily by operational needs, rather than for strategic planning.
- Most organisations have a limited number of IoT devices deployed.
- Basic On/Off commands are the top IoT applications deployed, followed by Security and Compliance applications.
- Mobile Operators and Microsoft top vendor consideration across most markets.
David Kerr, senior vice president, said “Enterprises tell us that IoT solutions are driven by operational needs, rather than strategic planning, as we observe firms using IoT to address and improve existing issues and processes. Our belief is that IoT will become more strategic in nature, aligning with corporate goals and strategy as the IoT initiative becomes further ingrained in daily business.”
Over the coming weeks Strategy Analytics will be releasing a series of reports based on the results of the 2017 Enterprise Survey, addressing four country markets, and nine vertical markets. The reports are published by the Strategy Analytics IoT Strategies service, details of which can be found here.