There Is Light At The End Of The IoT Tunnel

Although we are talking about the consumer realm, where IoT is more of an overhyped novelty, similar concerns remain in the much larger business (B2B) market. While IoT holds promise to completely transform businesses, disrupt markets and create new value propositions, its perceived dark sides are impeding progress. Just one year ago, Cisco research showed that 60% of IoT initiatives stalled at the proof-of-concept (PoC) stage, and only 26% of businesses considered their IoT projects a total success. Times are changing, however. Over 69% of global organizations are adopting or planning to adopt IoT solutions this year, and the global IoT market is expected to reach as high as $8.9 trillion by 2020. Clearly, IoT continues forward despite the concerns.