The Internet of Things (IoT) is not taking off as fast as people had expected, a new report found. In the Internet of Things Business Index 2017, an Economist Intelligence Unit report sponsored by ARM and IBM, 24 percent of the global business leaders surveyed said they “strongly agree” that their progress with the IoT has not been as fast as expected, and another 33 percent said they “somewhat agree.”
Still, many of those surveyed seem to think the IoT will be very important. Of those surveyed, 21 percent said the IoT has already had a major impact on their business, while 32 percent said the impact so far was limited but likely to be much greater in the future. And 12 percent said the IoT hasn’t impacted them yet, though they expect it to in the future. By contrast, 29 percent expected a limited impact for IoT in the future.
Respondents said the biggest obstacles to the IoT include the high cost of required infrastructure investment (29 percent), security and privacy concerns (26 percent) and a lack of knowledge or commitment from senior management (23 percent).