LONDON, March 23, 2016 /PRNewswire/ -- This research service aims to provide a snapshot of a small number of end users' investment attitudes towards Internet of Things (IoT) technologies in order to illustrate enterprises' views on developments in the IoT market. The study reveals that though the market is nascent, it has surprising open-mindedness towards traditional and new vendors. A set of 20 questions were asked and the survey results are provided with their implications on the ICT industry, in addition to the explanation of 5 hypotheses statements. Furthermore, the survey reveals 10 vendor action points as a result of a snapshot of enterprises' 10 internal barriers to IoT investments.
-The definition of Internet of Things (IoT) is wide and all encompassing, reflective of a technology market that is still being defined according to different enterprises' and targeted end users' perspectives.
-A majority of the survey respondents have an Information Technology (IT) budget of upto % of the total revenue. Half of the respondents expect no change in the budget (in absolute terms) in the next 2
years, while the other half expects an increase; respondents (from the healthcare and public sectors) ave discretionary budgets for exploratory purposes.
-The biggest reason for investing in IoT is to improve productivity—in terms of both process efficiency and customer-facing activities.
-IoT investments originate from business units and are usually done in conjunction with the IT/Information System (IS) functions.
-The 2 most important barriers to IoT investments are other budget priorities and concerns with regard to data privacy, security, and compliance.
-A handful of respondents prefer a 'Operational Expenditure (Opex) Only' model, while others prefer to own a few assets, expecting to be spending Capital Expenditure (Capex) in the next years.
-No respondent expects an increase in price between 2015 and 2017. Prices are expected to fall as more parts of the solutions become comparable and standardised.
-A majority of the enterprises prefer a combination of specialist vendors and IT partners to be in charge of their IoT projects.
-Every respondent agrees that IoT is a vague technology concept that needs time to mature.
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