“In the next century, planet earth will don an electronic skin.
It will use the Internet as a scaffold to support and transmit its sensations.”    
– Neil Gross

From a recent survey of 1135 US SMBs conducted by Techaisle to understand IoT adoption trends, it has emerged that only 10% of small businesses have currently adopted IoT compared to 29% midmarket businesses. Similarly, only 22% SMBs are planning IoT adoption initiatives compared to 54% midmarket companies.

From these statistics, it is evident that most SMBs are wary of entering the IoT fold. A relatively recent entrant on the IT stage, the Internet of Things (IoT) has already shaken the foundations of computing and IT as we know it.

What is IoT?

When most companies are talking fervently about harnessing the power of IoT, it is important to understand the concept behind it.

IoT is the intimate network of connections between physical devices, buildings, items, or anything that is embedded with electronics and sensors that allows storage and exchange of data between them. In short, it is an ecosystem of connected physical ‘things’ that can be accessed and given commands using the internet. The most common examples being Amazon’s Echo, Fitbit, Samsung SmartThings Hub, etc.

 SMB IoT Adoption

While several large and medium enterprises have already implemented IoT initiatives, SMBs are slow to follow, mostly due to constraints in budget, feasibility and other factors. The following infographic explains the opportunities, benefits and barriers to adopting IoT as listed by the surveyed SMBs.

 

 

IoT Adoption, trends, Big Data, Data, SMB

source: Techaisle

CyByte’s IoT solutions

As a leading provider of Automation solutions, Analytics, Enterprise solutions, Product Engineering services, Mobility solutions, and Strategic Consultation Services, CyByte offers advanced automation and IoT solutions. We use Machine Learning and Natural Language Processing Algorithms to automate business and operational processes. Enterprises can also leverage the collective power of SMAC (social, mobile, analytics and cloud) generated data and IoT and get powerful business insights for informed decision making.