Cisco announced its reorg the same day ARM released a survey it commissioned by the Economist Intelligence Unit of the business impact of IoT. The study surveyed 779 executives from large and medium-sized companies around the globe across various industries.
Three-quarters of the companies surveyed said they are either actively exploring or using the Internet of Things in some way. Three years from now, almost all respondents (96 percent) expect their businesses to be using the IoT in some respect.
However, current IoT investments are relatively low. Since 2012, only about 30 percent of companies surveyed have seen double-digit growth in IoT investment. Forty percent of respondents said the impact of IoT will be limited to certain markets or industries. A similar-sized group (38 percent) believes that the IoT will have a major impact in most markets and industries. Most executives (61 percent) said companies that are slow to integrate the IoT into their businesses will fall behind the competition.
The study included interviews with nine executives, such as one from China-based white goods giant Haier, which is developing a WiFi-based networked home appliance platform. The drop in the cost of WiFi routers to prices as low as $10 enabled the concept, it said.
The study also included an interview with Kevin Ashton, general manager of the clean tech division at Belkin who claimed to have coined the term Internet of Things in 1999 while at Procter and Gamble.