ROI for IoT deployment is one year, says new research

The UK-based research firm, Omdia, has recently released some pretty exciting survey results. While 70% of enterprises have the plan to implement Internet of Things (IoT) deployment within the next two years, most are making this choice because they expect a very quick ROI upon doing so. In fact, this figure comes in at around a single year for 70% of respondents and as low as 6 months for the other 30%.

Why is IoT deployment increasingly important to all organizations?

IoT is a rapidly growing phenomenon that is changing the way we live, work and play. IoT deployment is increasingly important to all organizations because it can help them gain a competitive advantage through better decision-making and customer engagement. With IoT data collection at scale, organizations can make smarter choices that will positively impact their business outcomes.

The ROI of an IoT deployment is multifaceted and extensive. It can help organizations improve their efficiency and reduce costs. This is because IoT technology can provide a single view of the organization's operations, enabling them to make better decisions.

IoT integrations are one of the most effective ways to improve the productivity of a company, but it can also be an expensive investment. The ROI of using IoT is dependent on a number of factors including the cost of deployment and maintenance, as well as the benefits that it can provide. One mistake organizations shouldn't make is attempting to integrate IoT technology into their business processes without sufficient and significant expertise on the subject. Not only can this lead to more costs long-term, but it can lead to issues for employees in embracing this new technology.

Enterprise leaders still face challenges regarding IoT deployment

While many if not all enterprises are interested in implementing IoT solutions to some degree, there are some obstacles that they face. These include:

Security: Enterprises have to make sure that the data and devices are secure from hackers and other unauthorized users. There are multiple security concerns with the proliferation of these devices.

Data management: Businesses need to find a way to store all the data generated by their IoT devices, as well as strategies to analyze it and make decisions based on it. There's also the problem of a lack of standards for data integration and storage across devices and systems to contend with.

Integration with legacy systems: It's vital that companies integrate their new IoT solutions with the outdated systems they currently have. When this isn't done properly, devices and systems are unable to operate together or alongside each other.

The challenges enterprises face in IoT integration are vast and varied. Some other challenges include a shortage of skills needed to design and implement IoT solutions, an inadequate understanding of how to procure or manage IoT services and a lack of awareness about how to integrate the solutions with other business systems.

One answer is to outsource the integration process. This way, enterprises can focus on their core operations while outsourcing all the other tasks related to IOT deployment.

Leaders in IoT deployment strategy

Perle is proud to partner with IoT device manufacturers by offering serial to ethernet solutions. Visit our Case Studies by Industry page to learn more about Perle's industrial switches and terminal servers. For more information, reach out for a conversation with a team member today!