Are you having problems with trying to incorporate Internet of Things technology into your new product? According to a new survey from Cisco, you’re not alone.
Projections from Gartner show IoT technology reaching more than 20 billion devices by 2020, while IDC predicts there will be 82 billion IoT endpoints by 2025.
Yet Cisco’s study – released last month at the IoT World Forum – found that 60 percent of IoT projects flounder at the proof of concept phase. Only 26 percent of companies said they had an IoT project they considered a total success. Worse still, one third of all finished projects were considered failures.
“It’s not for lack of trying,” Rowan Trollope, Cisco’s general manager for IoT, said during the forum. “But there are plenty of things we can do to get more projects out of pilot and to complete success and that’s what we’re here in London to do.”