Press Release Detail
New Research from Penton's IoT Institute Finds Privacy & Organizational Readiness are the Primary Challenges of Implementing IoT
(San Francisco, Calif. - June 22, 2016)
Penton's IoT Institute, a new business unit focused on the rapidly-growing world of the Internet of Things (IoT), today unveiled new research which finds privacy and organizational readiness are the primary challenges of implementing IoT.
"While security and data privacy were cited as key concerns, the majority of respondents view IoT as an opportunity to achieve multiple business outcomes, including insights from data analytics, improving customer service & engagement, improving productivity uptime, faster response times to urgent situations and operational efficiency via asset tracking and automation of manual processes," said Paul Miller, Group President, Penton. "With only a third of industry professionals very or extremelyfamiliar with IoT, the IoT Institute and our upcoming event – IoT Emerge – will provide the industry with best practices and insights to drive practical and measurable results."
Additional key findings include:
- Cross functional teams – including IT, Executives, Operations, Engineering, Consultants/System Integrators and Facilities/Building Managers – are critical for IoT success.
- Networking and M2M communications are the most commonly used technologies for IoT applications, followed by cloud computing and data analytics.
- IT professionals are interested in IoT education to achieve business outcomes. Seventy one percent would like to learn about the relevance and value of IoT for their organizations, while 65% believe that organizations that leverage IoT will have a significant advantage.
The study surveyed nearly 1,000 executives, technical & operations professionals across several vertical markets to take a benchmark pulse on the IoT business and public sector markets. The top vertical markets surveyed were manufacturing, engineering, IT, government, energy, aviation and professional services. The objective of the study is to gain insight into familiarity and involvement levels with the IoT, the collaborative IoT evaluation and buying process, obstacles to adoption rates and viewpoints about the benefits and opportunity with the IoT.
Market research is a core element of IoT Institute's portfolio of information services and education for Industrial IoT, Smart Cities, Smart Buildings and Energy and IoT Engineering. The IoT Institute will unveil additional research in 2016 on Industrial IoT, IoT for Buildings, IoT Engineering and IoT Standards & Interoperability.
To set an appointment to review the full details from the research study, contact Will Wise, IoT Institute Managing Director at will.wise@Penton.com.
IoT Emerge is a new event in Chicago this November 2-4 that addresses the Industrial IoT and Smart Cities opportunities and challenges posed by IoT devices, systems and services. IoT Emerge will offer real-world education and insights, hands-on experience of IoT enabled businesses through local tours, live demos, and case studies. To learn more and to register, visit:www.IoTEmerge.com.
Stay connected with Penton IoT Institute on Twitter @IoTiPenton, Facebook: IoT Institute and LinkedIn Group: The IoT Institute. To sign up for the IoT Institute weekly IoTi Informer newsletter, visit: http://www.ioti.com .
About Penton's IoT Institute
Penton's IoT Institute is an online community and live events franchise focused on practical B2B applications in the rapidly-growing world of the Internet of Things (IoT). The IoT Institute provides actionable case studies, insights, research, and e-learning on the industrial and cultural phenomenon that's changing the shape of business and cities today. The IoT Institute's mission is to enable cross-industry and cross-job function learning to drive business performance.
Penton is an innovative information services company that empowers nearly 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year. Our products inform with rich industry insights and workflow tools; engage through dynamic events, education and networking; and advance business with powerful marketing services programs. Penton is the way smart businesses buy, sell and grow.
Headquartered in New York, Penton is privately owned by MidOcean Partners and Wasserstein & Co., LP. For more information, visit http://www.penton.com or follow us on Twitter @PentonNow.