Is this yet another buzz phrase everyone is jumping on? We don't think so………..
Research commissioned by Webroot and data centre firm IO suggests that a staggering 94% of UK businesses are investing heavily in the preparation for the IoT.
A further survey carried out by OnePoll interrogated 500 CEO's and senior decision makers in the UK. The findings were astonishing, and saw new roles specific to the IoT being created, with some 54% of those surveyed declaring that they intend to recruit a Chief IoT Officer in 2016. The confidence in the sector is also unprecedented with 68% of this cross section of business leaders confident that their investment in IoT will reap rewards within the year.
So, where is this spend going? The greatest drive is to invest in the emerging technologies and to increase revenue and greater competitive advantage over their competition. Of course, it won't be long until we see the OxO taking effect (x has it and the O's follow suit). This will see the initial strategy become ever more so important.
A great deal of the investment to date has gone into preparing, reviewing and updating the infrastructure. After all, you would consider embarking on a new building project to extend you home without ensuring you have stable ground to build upon, followed by adequate foundations? 24% of those quizzed declared that their existing infrastructure continues to be a key barrier to them progressing further within the world of IoT.
The largest barrier to embracing the IoT (with 72% of the CEO's in agreement) is that of finding the right resources and the right people to work with. The coming years are set to see many pursue a career in this sector. Simply, the expertise are limited at this time with businesses everywhere looking to capitalise on the potential. It is not only the demand for external resource but the skills within the business presenting a threat to the organisation’s development.
Boxmodel, a leading strategic software house, has recognised the impending shortfall in expert resource and seen their internal investment focus on Research & Development specific to this bleeding edge technological evolution.
It is clear that everywhere we look, read, watch, we are seeing companies prepare for the IoT. The fact remains that the ability to maximise return will be on those companies finding the resource with the requisite skill set.
If you have any ideas or simply want to pick our IoT brains, please don't hesitate to make contact with our specialist IoT firstname.lastname@example.org.