Study: IT execs waking up to IoT

It may be early days for the Internet of Things in business, but a new report suggests that IT executives are starting to realise the potential of the technologies behind IoT – and how they can be used to enhance business.

Non-profit IT trade association CompTIA has released the ‘Sizing Up the Internet of Things’ report, which indicates how the Internet of Things market is progressing, albeit with some challenges still to be resolved.

The research indicates that eight in 10 IT industry executives have now taken some action to understand IoT opportunities, with one in three believing that execs will improve bottom line over the next one to two years.

Despite these positive findings, some concerns remain around the IoT with 53% of respondents believing that the hype around the market has gotten ahead of itself

“The data points to IoT advances on many fronts, but also confirms that like many markets for emerging technologies, it will take time for IoT to develop,” said Tim Herbert, senior vice president, research and market intelligence, CompTIA.

“Many facets of IoT – standards, governance, security and privacy issues, skilled workers and other matters – need to fall into place before the market can truly blossom.”

CompTIA’s research identifies several areas where IoT is expected to have the greatest impact, including controlling and monitoring newly connected devices or systems. (53 percent), collecting new streams of data (46 percent), adding intelligence to previously “dumb” devices or systems. (46 percent) and creating new value from connected systems. (42 percent)

The IT industry is at the centre of much of the current IoT activity. But CompTIA adds that IoT’s impact will be felt across virtually every sector of the economy as companies, government entities and other organisations explore innovative new ways to create business opportunities, deliver services and expand connectivity.

CompTIA’s Sizing Up the Internet of Things research brief is available free of charge with a simple registration at http://www.comptia.org/resources/sizing-up-the-internet-of-things.