Results from a March 2020 Forrester Consulting survey that we commissioned show that companies of all sizes are increasingly investing in the Internet of Things (IoT) in their businesses, with roughly half realizing sufficient value from their outlays already and the other half striving to overcome the associated challenges.
Analysis of survey data reveals five levers that affect an organization’s ability to succeed in implementing IoT at enterprise scale: organizational strategy, infrastructure, integration of IoT into existing processes and systems, use of data and enablement practices. Respondents who have addressed these challenges reported greater success in scaling up initiatives and experienced more positive outcomes.
Collectively, these findings support our perspective on enterprise IoT: While offering clear and measurable business benefits in the short term, IoT initiatives must be integrated into long-term strategy. IoT should be on the C-suite agenda when planning for the digital evolution of business models.