87% firms believe IoT key to future of their business: Survey

While 70 per cent of companies in the Asia-Pacific region believe Internet of Things (IoT) is very important to their current operations, 87 per cent believe IoT will be key to the future of their business, a new survey said on Thursday.

Nearly 72 per cent of the respondents said their company has significant or pilot IoT programmes in operation while 11 per cent said that IoT programmes are already a major contributor to their business, said the survey by Hitachi Vantara, a wholly-owned subsidiary of Hitachi, along with Forbes Insights.

"The findings clearly demonstrate the impact that IoT is already having on businesses across the APAC region. We are encouraged to see that a majority of businesses already view IoT as key to their future success," Daniel Chong, Senior Vice President of Asia Pacific at Hitachi Vantara, said in a statement.

The survey reached out to more than 500 senior executives globally, including 220 in Asia Pacific who are leading IoT initiatives within their companies.

"With 70 per cent stating that they see IoT as either important or very important to their business, it is fast becoming a competitive differentiator that will affect almost every industry," added Bruce Rogers, Chief Insights Officer at Forbes Media.

According to Chong, what business organisations around the world share in common is the need to secure top-down support for their IoT initiatives at the outset and find a trusted innovation partner that helps them achieve their desired business outcomes.

--IANS

na/dg