TORONTO – Nearly half of Canadian businesses have no plans to implement Internet of Things technology, while the other half is ready to jump on board, says a new study commissioned by Telus.
The study, conducted by MARU/VCR&C, surveyed 506 IT decision makers from businesses across Canada in March 2016. It found that 52% of Canadian businesses are considering, planning, piloting or deploying an Internet of Things (IoT) solution, while 48% indicated that they have no plans to adopt the technology, with 64% of those respondents saying that there is no business need.
Nearly two-thirds of businesses who are in the piloting and deployment stages predict that they will see a transformational impact on their business over the next five years, while only seven per cent of non-adopters feel the same way.
"The vast majority of businesses that are piloting IoT solutions are realizing that small changes can have a big impact and that, with the right partner, the technology can be deployed safely and securely," said Telus’ SVP of small business and emerging markets Jim Senko, in the study’s news release. "A business can start with something simple like remotely tracking vehicles or high-value assets and then evolve their IoT strategy and build their business case as they gain experience with the technology. There are IoT solutions for nearly every industry, and it's important that businesses 'test the waters' to fully understand what IoT can and can't do for them."
Other highlights from the study include:
– Of the 52% of IT decision makers who are interested in IoT:
- 23% are considering
- 11% are planning
- 9% are piloting
- 9% have deployed at least one solution
– The most common solutions currently being piloted or deployed are security (53%) and remote monitoring (47%);
– The biggest barriers to adoption for IT leaders, regardless of development stage, are budget (51%), security (41%), privacy (36%) and demonstrating ROI/building a business case (33%);
– More than half (55%) of Canadian businesses do not feel they have the necessary IT expertise within their organizations to develop IoT solutions and require external partners.
