Few organizations want to go it alone in implementing Internet of Things projects; preferring to use a vendor-made solution instead.
Nearly all (97%) organizations work with a vendor to some extent, with only 2% relying on in-house solutions only. This is according to a study conducted by technology market research company Vanson Bourne, commissioned by Software AG.
In our first blog, we pointed out that the IoT is not a fad; it is a revenue-creating, money-saving tool. The study noted that a full 98% of respondents identified IoT as an important initiative for their organization, and 98% of them are also already realizing value from IoT implementations.
But, there are challenges to implementation; many of which can often only be solved by a vendor - a lack of in-house tools and expertise, for example. Therefore most organizations take a hybrid approach to IoT, buying a platform from a vendor and then building on it and customizing in-house.
Still, there is no one-size-fits-all solution for IoT, so many organizations are looking for innovative vendors (46%) with a solution that can be easily integrated across the enterprise (40%), and that suits their needs (39%) – i.e. is customizable. Nearly three-quarters of respondents (72%) said that their IoT vendor could or should be doing more to help them.
Perceived benefits of buying an IoT platform include higher reliability (49%), enhanced security (48%), ease of integration (44%) and more (see chart). As many organizations strive toward achieving a carrier-grade IoT platform, it is easy to see why they would turn to a vendor for help.
Especially since a total of 77% of respondents will either put their IoT platform at the forefront of their organizations to drive them forward, or consider it a “key driver” to keep up with the competition.
Those who see their IoT platform as the forefront are also those who are mainly buying their platform (36%) rather than building it (20%). Perhaps they can place the IoT so prominently within their organization because they have the confidence of a platform beneath them!
Despite the importance these organizations place on IoT, there is still a lot of work to do; 89% feel that their organization needs to improve its plans for IoT. And only 25% think that their company’s platform will be “highly advanced” in 12 months’ time.
Tellingly, respondents whose organizations are primarily building their own IoT solution in-house are even less likely to think they can achieve a high level of advancement (16%), compared to those who are buying a platform (27%).
Clearly, choosing the right platform is the first step to your IoT project. As Vanson Bourne said: “Trying to do too much in-house is seemingly leaving organizations without the confidence that they will go on to have future success with IoT.”
Read the Vanson Bourne report by clicking below, and then come talk to us at Software AG about buying the most complete and customizable IoT platform on the market.
The platform is, obviously, the Thing.