The Internet of Things (IoT) has become the leading technology priority for digital transformation, coming in at the top priority for 92 percent of organisations.
The research from Inmarsat focused on the enterprise application of IoT and revealed that machine learning (38 percent), robotics (35 percent) and 3D printing (31 percent) are also key requirements for digital transformation among businesses.
Almost all of the respondents (97 percent) are experiencing or expect to experience significant benefits from the deployment of IoT technologies.
“The development and deployment of IoT is a new phenomenon spreading over every industry in every part of the world and this research has confirmed that IoT is the leading technology in digital transformation, taking a steady lead over other forms of innovation,” says Paul Gudonis, president of Inmarsat Enterprise.
Of the top benefits to be gained from the deployment IoT-based solutions, improved service delivery capabilities (47 percent), better health and safety across the organisation (46 percent), and greater workforce productivity (45 percent) came in as the top three.
However, the research also highlighted security concerns with a lack of skills (particularly in the deployment of IoT) and connectivity as key challenges that need to be addressed in order to maximise IoT's potential.
47 percent of respondents believe that their organisation will need to rethink their approach to data security and make heavy investments to meet IoT security requirements.
Meanwhile, almost 45 percent say a lack of skills are a particular challenge for their organisation in deploying IoT, while 29 percent agree that connectivity issues threaten to derail their IoT deployments before they have even begun.
“The research points to clear concerns – namely, security, skills, and connectivity,” says Gudonis.
“The increasing interconnectivity of devices, teamed with a heightened cyber-security landscape and a short supply of relevant skills, brings an array of issues. To overcome these challenges, collaboration is key.
Gudonis says it is set to be a highly-involved time ahead, but the benefits are worth it.
“Developing new technology is complex and draws on many different type of skills. Reliable network infrastructure providers, that can operate anywhere in the world, need to work closely with end-user businesses to make sure they understand their operational needs,” says Gudonis.
“Inmarsat is working with our network of partners globally to drive innovation through our expertise in IoT solutions and satellite connectivity.