Survey findings by leading IoT analyst firm Beecham Research indicate that only 12% of IoT projects are considered fully successful by their companies.
LONDON, UNITED KINGDOM, April 2, 2020 /EINPresswire.com/ — In a unique survey of 25,000 IoT user companies, while 12% considered their IoT projects to be fully successful, a further 30% considered them to be mostly or partially successful while a further 58% considered them to be either mostly or entirely unsuccessful. These survey findings are available for free in a full report at www.whyiotprojectsfail.com.
“There is much to learn from these findings. While IoT is a success and has grown rapidly over the last decade, it is not all plain sailing”, said Robin Duke-Woolley, Founder and CEO of Beecham Research that has specialised in the IoT market for 20 years. “IoT solutions can be complex but users are often unclear about what they want from IoT. As a result, many are wasting time, energy and resources on projects that will ultimately be unsuccessful. This is a real cause for concern in the IoT community.”
Other key challenges highlighted in the report include:
• Business aims are often not thought out
• Many are spending on data analytics without a clear reason why
• Technology issues not foreseen until too late
• Use of in-house versus external resources not optimised, often leading to failure
There are many lessons to be learned to increase the level of success and therefore the Return on Investment for IoT. Through detailed research, including interviews with IoT solution providers and enterprise users together with a large survey of enterprise users, this report examines why IoT projects fail, or never get started, and what we can learn from them. It does not seek to set out ‘one best way’ towards building an IoT solution. Instead, it explores what typically goes wrong and why, and suggests remedies for overcoming these challenges.
In creating this major new report, Beecham Research has been supported by the following sponsors: KORE, Semtech, Sierra Wireless, Kerlink Software AG, Libelium, Pod Group, Telit, Eurotech , iBASIS and IMC.
About Beecham Research
Beecham Research is a leading technology market research, analysis and consulting firm established in 1991. We have specialized in the development of the rapidly-growing connected devices market, often referred to as M2M and IoT, worldwide since 2001.
We are internationally recognised as thought leaders in this market and have deep knowledge of the market dynamics at every level in the value chain.
Our clients include component and hardware vendors, major network/connectivity suppliers, system integrators, application developers, distributors and enterprise users in both B2B and B2C markets. We are experts in M2M/IoT services and platforms and also in IoT solution security, where we have extensive technical knowledge.
Source: EIN Presswire