The Internet of Things, or “IoT,” describes a world in which more and more devices are sensor-enabled, connected, and able to share information about their current state and the environment where they operate. That world is already upon us.
Schneider Electric surveyed more than 2,500 business decision-makers around the world to find out what they think about the future of IoT. Over 70% of respondents indicated they believe IoT will:
- Create new business opportunities for their companies
- Improve the efficiency of their businesses and others
- Deliver long-term business benefits
- Become the critical interface between companies and their customers
And, tellingly, nearly half of survey respondents feared that not adopting IoT solutions in their operations would negatively impact their businesses, leading to a loss of competitive advantage.