This is according to the latest research conducted by Gartner
The number of businesses using Internet of Things (IoT) technology to help improve their services will grow by 50 per cent by the end of this year.
This is according to the latest research by Gartner. The research company surveyed 465 businesses across 18 sectors across North America, EMEA, Asia and Latin America in November last year about their Internet of Things habits.
Although fewer than 29 per cent of those surveyed are currently using IoT, an additional 14 per cent plan to introduce IoT into their companies by the end of 2016. An additional 21 per cent said they would begin using IoT in 2017.
Gartner claims the main drive for IoT has been the cost saving and customer service opportunities. It added that utilities, oil and gas companies will lead the growth.
Up to 38 per cent of those surveyed said they had no plans to use IoT. Nine per cent said they saw no relevance.
Gartner research director Chet Geshickter said the reluctance for these business to use IoT was due to lack of expertise and understanding. He said: “The first set of hurdles are business-related. Many organisations have yet to establish a clear picture of what benefits the IoT can deliver, or have not yet invested the time to develop ideas for how to apply IoT to their business.
“The second set of hurdles are the organisations themselves. Many of the survey participants have insufficient expertise and staffing for IoT and lack clear leadership.”