Nearly half have no plans to implement Internet of Things technology.
TORONTO — Canadian businesses are almost evenly split when it comes to their plans for Internet of Things (IoT) technology, according to a new study.
The study commissioned by Telus, a national telecommunications company, found 52% of Canadian businesses are considering, planning, piloting or deploying an IoT solution, while 48% have no plans to do so.
For those who are not considering IoT, 64% feel that there is no business need.
The study revealed 86% of businesses who have piloted or deployed an IoT solution are seeing its value and 83% are planning or already implementing additional solutions; and there’s a sense of urgency amongst adopters – more than half wish they were further along in their deployments.
According to the study, Canadian businesses are sharply polarized when it comes to the impact they think IoT will have on their industry. Nearly two-thirds of companies in the piloting and deployment stages predict they’ll see a transformational impact over the next five years, while only 7% of non-adopters feel the same way.
Of the 52% of IT decision makers who are interested in IoT:
The most common solutions currently being piloted or deployed are security (53%) and remote monitoring (47%).
The biggest barriers to adoption for IT leaders, regardless of development stage, are budget (51%), security (41%), privacy (36%) and demonstrating ROI/building a business case (33%).
More than half (55%) of the companies don’t feel they have the necessary IT expertise on hand to develop IoT solutions and that they require external partners.
The study, conducted by MARU/VR&C (formerly the Research & Consulting Division of Vision Critical), surveyed 506 IT decision makers from businesses across Canada in March.