Forty-eight percent are on the path to becoming intelligent enterprises, scoring between 50-75 points on the overall index. Only 4% exceeded 75 points on the index.
Some of the criteria include Internet of Things (IoT) vision and adoption plan as well as business engagement in developing a return on investment for IoT. The criteria were identified by leading executives, industry experts and policymakers across different industries at the 2016 Strategic Innovation Symposium: The Intelligent Enterprise, which was hosted by Zebra in collaboration with the Technology and Entrepreneurship Center at Harvard (TECH) last year.
IoT vision is strong and investment set to increase. Forty-two percent of companies spend more than $1 million toward IoT annually, with an average of $3.1 million per year, and 75% expect that number to increase in the next one to two years. In fact, 42% of companies expect their IoT investment to increase by 11-20%. Notably, 57% of companies have an IoT vision and are currently executing their IoT plans. Although only 36% currently have company-wide deployment, it is expected that 62% will have it deployed company-wide in the future.
Customer experience is driving IoT. Seventy percent of companies claim the largest driver of IoT investment is improving the customer experience. In the future, increasing revenue (53%) and expanding into new markets (51%) are expected to be the largest drivers.