HCL Study finds half of organizations lag in IoT adoption

HCL has released the findings of an independent survey of senior business and technology decision-makers on the Internet of Things (IoT) in large global enterprises. This is a first-of-its-kind global CXOs survey with early adopters of the technology. Fifty per cent of respondents said their organizations are already behind the curve on IoT, whilst 43 per cent said their customers will suffer from their organization’s failure to utilize IoT fully. The key findings include:

·  Nearly half of respondents (49%) said an uncoordinated, siloed approach to IoT is holding them back from moving beyond pilots into revenue generating opportunities.

·  65% said the primary drivers for adopting IoT are improving business process efficiency and better customer satisfaction.

·  Approximately four in ten (38%) organizations are using IoT and a further 57% plan to use it in the future.

·  82% agreed that organizations embracing IoT are likely to be in a stronger position in the marketplace.

These findings indicate that many businesses are still in the early stages of IoT adoption, where its use is limited to a single business function, rather than being committed to a formal business-wide programme.

“Many companies have made inroads into the IoT, but when you peel away the layers, very few have embarked on truly transformative programmes,” said Sukamal Banerjee, CVP & Global Head of IoT WoRKSTM, HCL Technologies. “Success depends on an enterprise-wide IoT strategy that centralizes a significant portion of the data from connected assets onto a single platform, where it can be used to generate revenues and new opportunities. It is only by doing so that they will reach the ultimate goals of IoT: organizational efficiency, more profitable business models and competitive edge. For example, manufacturers can use sensor data to charge customers based on hours of equipment in operation, or lab equipment providers can detect and automatically replenish supplies.”

The research findings are unique and indicate that the solution to the challenges that are holding businesses back from committing more fully to the IoT, are dependent on selecting the right IoT platform. Perhaps, in response to these challenges and to avoid falling behind, almost three-quarters (73%) of respondents said they plan to enlist the support of a specialist IoT service provider.