Ungated Post | 15 Apr 2016
State of the Market: Internet of Things 2016
2015 was the year that the IoT gained legitimacy; 2016 is the year it goes mainstream. Over the last year, enterprises shook off a "start small, think big" mind-set around IoT, and are now building it into their future strategies and business models.
Oxford Economics surveyed 500 early adopters of IoT across different industry sectors and carried out in-depth interviews with nine IoT pioneers to understand their experiences implementing IoT. The survey investigated progress made implementing IoT, the financial business case, along with actual and expected performance improvements. The survey also explored the constraints that are holding back these early adopters. The survey results and interviews were important research inputs to Verizon’s report. Key findings include:
- Companies across all industries now have IoT squarely on their radar.
- A growing IoT market is enabling organizations from every industry to comply with regulations, increase process efficiency, gain better customer insight, and build completely new business models.
- IoT platforms are making the development of IoT applications easier, faster, and cheaper for everyone.
- Analyzing IoT data remains a difficulty; only 8% use more than 25% of the IoT data they capture. -Security, organizational and cultural change also remain significant constraints.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
Americas
Diantha Redd
+1 (646) 503 3052
Email
Asia Pacific
Peter Suomi
+65 6850 0110
Email
EMEA
Aoife Pearson
+44 (0)203 910 8054
Email
Related Services
Post
Forecasting the Growth of Millennial Wealth in the U.S.
Consulting Report State of the Market: Internet of Things 2016 You might be interested in
Find Out More
Post
The Economic Impact of SHEIN in the United Kingdom
Consulting Report State of the Market: Internet of Things 2016 Quantifying SHEIN’s Economic Contribution and Support for local designers, artists, and businesses in the UK. You might be interested in
Find Out More
Post
Aviation: Benefits Beyond Borders 2024
Consulting Report State of the Market: Internet of Things 2016 You might be interested in
Find Out More