Gartner: Global enterprise IoT adoption is expected to reach 43% in 2016

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Market research firm Gartner released a global survey earlier this month stating that by the end of 2016, the IoT adoption rate among global enterprises is expected to reach 43%.

Gartner surveyed 465 IT and business experts from more than a dozen industries around the world. The survey showed that 29% of respondents are currently using IoT technology, 14% plan to use it before the end of 2016, and 21% plan to deploy it after 2016.

Currently, only a few companies are truly using the Internet of Things. Gartner analyzed that this is mainly due to two reasons: first, most companies have not found a way to use the Internet of Things to bring benefits to the company; second, most companies lack experience and talent related to the Internet of Things. In addition, companies and institutions that have deployed the Internet of Things regard network security and business management needs as the biggest challenges.

The survey also shows that enterprises adopting the Internet of Things are concentrated in heavy industries such as oil, gas, utilities and manufacturing. It is expected that by the end of 2016, the proportion of enterprises adopting the Internet of Things in these industries will reach 56%, while the service industry will only be 36%. 52% of the respondents said that using the Internet of Things can help them cut costs, improve efficiency and increase asset utilization, while 40% of enterprises and institutions use this technology to improve customer experience and expand revenue.