The term Internet of Things (IoT) has veered from buzzword to palpable game changer for organizations across Asia Pacific. Today, it’s the driving force of a swiftly evolving digital economy—a host of research organizations have regularly asserted that the region’s IoT uptake would present billions in market opportunities.
If we take a closer look, the potential for Asia Pacific’s business models to benefit from IoT is immense. According to Aruba’s The Internet of Things: Today and Tomorrow report, organizations that have adopted IoT saw an average of 33% return on investment, while recognition of improving a company’s efficiency levels and innovative output will push the adoption of IoT in the region to reach 86% in 2019!
For business leaders still on the fence about implementing IoT, the question begs: How can I harness IoT for greater business impact?
A key element lies in securing the abundant data generated by IoT. A startling 88% of organizations across Asia Pacific have experienced at least one IoT-related security breach, the highest in the world. In addition, while the majority of these organizations claim to be able to analyze IoT data, 44% actually struggle with ingesting data from multiple and distributed mobile devices, encumbered by a lack of relevant in-house resources and legacy IT infrastructures.
In view of large-scale cyberattacks that are increasing in frequency and sophistication, it is clear that organizations in Asia Pacific are not fully analyzing data within corporate networks, missing on insights that could improve business decisions.
Organizations are walking a tightrope in managing the cost of implementation and integration of legacy assets. Three in every four IT leaders and executives in Asia Pacific lack the confidence in their organization to fully support IoT. These stumbling blocks hinder organizations from driving new business values and achieve competitive business advantages.
The Internet of Things is upon us, but still organizations are struggling to implement a comprehensive digital strategy that identifies new revenue streams, streamline operational processes, and increase efficiencies.
At this critical stage, businesses need to make the important decisions where and when it counts to knock out security gaps while supporting workplace flexibility and collaboration.
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