Most of the IoT data is sourced from data centers and newer horizons are being explored by businesses. While most of the organisations managed IoT initiatives without any help, security and ROI still remain primary concerns.
Around two-third organisations globally are using data enabled by Internet of Things, as per a latest research. While most of the data is collected by devices from machines including equipment, devices or other connected endpoints for a business purpose; humans & animals (8.5%) and environment (20%) represented a smaller, but growing portion of data source for Internet of Things, as per the research.
The business value generated by IoT data, as per the report, varies from industry to industry. While manufacturing and utilities are mostly focused on optimizing operations, reducing risk is more critical for those in the finance and public sector.
But overall, most of the data collected are used to reduce risk and optimize operations. Developing new or enhancing existing products or services and enhancing customer targeting were also amongst the values generated by IoT data collection, as per the research.
Currently more than half of the data is collected from datacenter IT equipment followed by camera or surveillance equipment. Industry plays a big role with 49% of manufacturing organizations gathering data from factory equipment and 49% of healthcare organizations gathering data from medical devices.
However, security remained a concern for almost half (46%) of the organisations. Lack of skills, lack of IT capacity and lack of return over investment hinder the IoT growth for businesses.
Most organizations (61%) manage their IoT initiatives without the help of external consulting or professional services.