Survey predicts big rise in role of IoT for business

Wednesday 29 November 2017

A survey by the tech consultancy Logicalis has found that 69% of Channel Island firms expect the Internet of Things (IOT) to affect their products, services, or operations within three years.

The results of the survey come just after the announcement that the States have agreed to give £449,000 to Digital Jersey to help pay for the creation of the island's first IoT lab.

Only 12% of CI organisations said they believe they will never be affected by the Internet of Things,  which is less than the UK at 18%, but well above the global average of 7%.

The survey found that local firms are a long way behind on IoT with just 8% of them currently using IoT devices, a third of the global average and significantly less than the UK where 21% of firms use them.

However, the trend looks like it might be about to change. Nearly a quarter of the 1,000 Chief Information Officers and IT directors surveyed said they expect the IoT to affect their organisation within six to 12 months. 23% expect it to happen within the next two years with 38% thinking it will take at least two to three years.

Tom Bale, Business Development and Technical Director, Logicalis, said: “Channel Island organisations are a long way behind UK and global counterparts in embracing the Internet of Things and incorporating IoT into their operations and offerings. However, this is something which looks like it will change very quickly
and we would expect the picture to be different in a few years’ time.

"As with a lot of digital change, companies reach a tipping point where not adapting and adopting new technology means falling behind competitors who have. This is the stage where organisations feel the need to accelerate.”

Over half of the CIOs surveyed indicated they think the IoT would improve customer service and operations. Half of them thought it would enhance products and services, 35% that would it help develop new products and service lines while only 15% thought it would improve partnerships.

Mr Bale added: “Companies face many challenges as they embrace the Internet of Things, in particular over security of IoT devices, security of apps, and security of
the data collected by the devices. Cybercriminals are out to  exploit security gaps wherever they can find them so as companies roll out more products and services they need to ensure consumers understand how to use them properly to ensure they are not compromising their own data privacy.”