Despite all the hype about the Internet of Things transforming our world, a new survey finds that reality is quite different. According to a survey released at the Internet of Things World Forum, Cisco finds that most IoT projects are failing.
The survey reports:
- 60 percent of IoT initiatives stall at the Proof of Concept (PoC) stage
- Only 26 percent of companies have had an IoT initiative that they considered a complete success.
- A third of all completed projects were not considered a success
- Time to completion
- Quality of data
- Internal expertise
- IoT integration
- Budget overruns
“It’s not for lack of trying,” said Rowan Trollope, Senior Vice President and General Manager of IoT and Applications for Cisco. “But there are plenty of things we can do to get more projects out of pilot and to complete success, and that’s what we’re here in London to do.”
The IoT conference is taking place in London.
Cisco notes that research continues to point to IoT growth with IDC forecasting a growth of IoT “endpoints” to more than 82 billion in 2025 compared to 14.9 billion at the end of last year.
The survey included 1,845 IT and business decision-makers across the United States, UK, and India.
Read more about the survey at: