IoT deployments are also maturing within organizations, with 73% of respondents saying their projects were either in full deployment or in the testing / proof of concept (PoC) phase, up 4% per year.
As a result, the number of projects increased by 25% year on year, and now almost 40% of companies deploy more than 5 IoT projects within their organization, while only a small percentage of them deploy projects at single use case, depending on the results. .
The growth of project deployments within organizations correlates with an increase in investments in technology. 38% of respondents said their organization’s IoT investment will exceed $ 1 million in 2021.
However, business security concerns associated with the technology have increased from 13% to 53% in a year, with data network and device security being the main challenge of IoT adoption in enterprises.
Data protection / governance concerns rank second, growing nearly 20% from 31% to 50% in the past year.
Interestingly, the results observed that the company’s security concerns were evenly distributed across four key factors, with 23% indicating that lateral breaches caused by the IoT network or device compromise could allow a third party to access. to other devices / resources, while IoT device authentication / identity breaches rank. second (22%), ransomware demand ranks third (20%) and DDoS attacks fourth (19%).
These security concerns are reflected in the company’s choice of vendor, with 31% of companies saying it’s essential to have integrated IoT security solutions.
A large portion of the companies surveyed said that large Internet / cloud service providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud were their primary IoT providers.
However, nearly 46% of companies reported using multiple vendors, up 9% year on year for their deployment needs.
“… Serious concerns about security, data privacy and governance remain within many organizations. Over the next year, as more companies see firsthand the direct correlation between IoT deployment and business efficiency, we expect IoT deployments to continue. to accelerate, ”said Josh Builta, Director of Research, Internet of Things and Artificial Intelligence at Omdia.