Security, privacy top IoT concerns: TELUS survey
A new study suggests that nearly half of Canadian businesses have no plans to implement Internet of Things technology, while the other half is ready to reap the benefits. Among respondents to the study commissioned by TELUS, the most common solutions currently being piloted or deployed are security (53 per cent) and remote monitoring (47 per cent).
There’s an even split between Canadian businesses when it comes to their plans for IoT technology. The study found that 52 per cent of Canadian businesses are considering, planning, piloting or deploying an Internet of Things (IoT) solution, while 48 per cent indicated that they have no plans at all to adopt the technology. For those who are not considering IoT, 64 per cent feel that there is no business need.
“By embracing IoT technology, Canadian businesses have a huge opportunity to reap the benefits of digital transformation, yet we’re seeing that some are much further along the adoption curve than others,” said Jim Senko, senior vice-president of small business and emerging markets at TELUS.
According to the TELUS survey, the biggest barriers to adoption for respondents, regardless of development stage, are budget (51 per cent), security (41 per cent), privacy (36 per cent) and demonstrating ROI/building a business case (33 per cent).
“From streamlining business processes to creating entirely new business models, IoT solutions have tremendous potential to generate efficiencies, increase cost savings and quite literally, revolutionize how businesses operate. If companies aren’t already looking into the technology, they’re at risk of falling behind those that are,” Senko states.
Organizations that have embraced IoT are seeing the results that the technology can deliver. The study revealed that the vast majority (86 per cent) of respondents who have piloted or deployed an IoT solution are seeing its value and 83 per cent are planning or already implementing additional solutions. There’s a sense of urgency amongst these adopters as well, as more than 50 per cent wish they were further along in their deployments.
The study suggests that Canadian businesses are sharply polarized when it comes to the impact they think IoT will have on their industry. Nearly two-thirds of respondents 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 Senko. “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.”
The study was conducted by MARU/VR&C (formerly the Research & Consulting Division of Vision Critical) and surveyed 506 IT decision makers from businesses across Canada in March 2016.