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Unlocking the business value of IoT in operations
The Internet of Things (IoT) has huge promise and potential: In 2016, global spending on IoT reached $700 billion and is expected to reach 1.3 trillion by 2020.1 Another estimate suggests that IoT is expected to add $1.7 trillion to the global economy by 2019.2 But that potential, in the internal operational sphere, is often going unrealized. At many organizations, IoT initiatives designed to optimize operations do not achieve their goals or reach meaningful scale. We found that more than six out of ten organizations have failed to take operational IoT initiatives past proof-of-concept stage or beyond implementation at one or two sites.
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