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Is IoT Hype or Reality?

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According to a recent survey conducted by CompTIA (the IT industry trade association), IT executives were split on whether the Internet of Things, or IoT, is over-hyped. From a survey sampling of approximately 300 however, many of the execs did acknowledge that there are benefits from internet connectivity beyond traditional devices, including the creation of new business opportunities.

In addition to creating new revenue and business opportunities from connected systems such as smart cities and connected vehicles, the survey identified several areas that will deliver value in the long term for business. These include controlling and monitoring connected equipment, collecting new streams of data and adding intelligence to previously “dumb” objects and systems. The survey results are summarized in this slideshare presentation entitled “Sizing Up the Internet of Things”:

Another survey by Harvard Business Review Analytic Services surveyed 269 early adopters from around the globe to find out more about the benefits and challenges of implementing IoT. The results demonstrate that early adopters are indeed seeing the benefits of IoT—62% of respondents said IoT increases customer responsiveness, while 54% credit IoT with increasing market insight. In terms of business transformation, remote asset management/tracking tops the list of areas where businesses plan to deploy IoT over the next 18 months.

The results are summarized in this infographic by Verizon Enterprise Solutions:

We play into an ecosystem that tops out as having perhaps the greatest advantage in terms of creating new revenue and business opportunities with IoT.  To learn more about applications and use cases, visit our Knowledge Center. Some of our popular additions to the section include Satellite-Cellular for Tracking Oil & Gas Service Vehicles and Satellite Communications for Automated Meter Reading.

What do you think? Is Iot over-hyped? Share your thoughts below…

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Sue Rutherford

As the Vice President of Marketing for ORBCOMM, Ms. Rutherford is responsible for advancing the strategic direction of ORBCOMM marketing and its leading satellite/cellular products and services portfolio. She has more than two decades of global technology marketing expertise in the telecommunications, software, SaaS and industrial automation industries.

Posted in 4. Oil & Gas / Utilities, 5. M2M/IoT Trends Tagged with: , , ,

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