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IoT to Be a Big Driver of Growth But Industry Lacks the Necessary Skills

August 01, 2019 / DONNA FUSCALDO

Companies are rapidly adopting and embracing IoT but a new survey from Microsoft shows there is a wide skills gap when it comes to this segment of the market. Microsoft surveyed more than 3,000 IoT decision-makers employed by enterprises and found many believe 30% of the company's revenue will come from IoT in two years time. Despite strong growth expectations, Microsoft also found the industry doesn't have the skilled workers to overcome the complexity and security challenges facing the IoT market. IoT is transforming businesses in every industry and is powering breakthrough innovations,” said Sam George, head of Azure IoT in the research report. “Our research shows that unlocking IoT’s full potential requires the industry to address key challenges like the skills shortage, security concerns, and solution complexity.” According to the software giant, 30% of the IoT projects fail in the proof-of-concept stage due to costs or a lack of bottom-line benefits.