IoT can deliver smart spaces – intelligent conference rooms, location services, and real-time monitoring are just a few of the applications that make the workplace more efficient and productive. Across all verticals, 81% have seen notable increases in business efficiency and innovation as a result of IoT adoption.
Within the healthcare industry, respondents are seeing a ROI of over 40%, with a 33% increase in IoT devices – patient monitors, power generators and meters, and imaging/x-ray machines – expected to connect in the next two years. The challenge will be how to incorporate this influx of IoT devices with legacy network infrastructures.
88% of retailers said that IoT has increased business efficiency and has allowed greater engagement with shoppers. Although more than half have seen a return of up to 40% on their IoT investment, retailers worry about keeping their network and customer data safe amidst IoT-related breaches.
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The top benefits of Industrial IoT are business efficiencies, IT organizational productivity and innovation. Industrial IoT investments have driven returns with more than three-quarters saying they’ve achieved a ROI of up to 80%. However, the IoT payoff comes with challenges, the top one being the difficulty integrating new technology with legacy systems.
