- 96 percent expect their business to be
using IoT in some respect by 2016
- More than three in five (61 percent)
executives agree that companies that are slow to integrate IoT will
fall behind their competition
Collaborative business models, skills
development and common standards needed for business to take full
advantage of the Internet of Things
ARM® today unveiled the findings of a new comprehensive report
by the Economist Intelligence Unit, The Internet of Things Business
Index: A quiet revolution gathers pace. The report, sponsored by
ARM, found that 75 percent of C-suite business leaders are actively
researching opportunities created by the Internet of Things (IoT).
The report also revealed that 30 percent of business leaders feel
that IoT will unlock new revenue opportunities, but just as many
(29%) believe it will inspire new working practices, eventually
changing the model of how they operate (23%). The report concludes
that the implementation of common standards will be paramount to
enable communication between millions of connected devices and stop
the ‘Internet of Silos’.
ARM CEO Simon Segars says: “The Internet of Things runs on ARM.
By connecting the next 30bn devices, the ARM ecosystem is
transforming lives by improving the management of our cities,
health services, environment and education systems. Our
technologies provide the functional building blocks in a huge range
of products including cars, heart monitoring systems, washing
machines and lighting. Energy efficiency and miniaturisation are
essential in these technologies, for example, the ARM Cortex-M0+
processor fits within the width of the average human hair - an
essential component if we are to unlock the full business benefits
of IoT. With this kind of innovative design, alongside our diverse,
dynamic business ecosystem, we can unlock the full business
benefits of IoT.”
The report highlights the need for a collaborative approach with
companies needing to ‘learn to cooperate with players across
industries’, encouraging standards that will avoid the so-called
‘Internet of Silos’ where data is created, but not shared amongst
service providers to benefit the user.
Who is leading the charge?
- European businesses are ahead (see page
7 of report) of their global counterparts on the leader-board, in
the research and planning phases of implementing IoT
- Manufacturing is leading the way (see
page 7 of report) with IoT amongst the industries tracked, driven
by the need for real time information to optimise productivity. One
in four manufacturing companies already has a live IoT system in
place. This sector is followed closely by construction and real
estate
The top five barriers for companies increasing the use of IoT
(top responses) are:
1. Lack of employee skills/knowledge
2. Lack of senior management knowledge and
commitment
3. Products or services don’t have an obvious
IoT element to them
4. Immaturity of industry standards around
IoT
5. High costs of required investment in IoT
infrastructure
“The self-stocking intelligent fridge is a step closer to
becoming an everyday reality,” said James Chambers, editor of the
report, “but conversations about IoT are clearly moving on. Two in
five C-level executives are now telling us that they discuss IoT
regularly. Whether we will all end up wearing clothes connected to
the Internet remains to be seen – but it’s hard to think of any
business that can’t be part of the IoT revolution.”
Common Standards for Shared Success with IoT
The report suggests that only by removing data silos and
establishing common standards will the IoT to achieve the scale
needed to operate across all markets successfully. The emergence of
big data is also an impact, with Honda handling terabytes of data
stored in databases for 1.4m users. Now, more than ever, managing
that data and being able to analyse the little data coming from the
uptake of IoT.
Join the Debate for Your Chance to Win
If you have thoughts on this research study, or have an idea for
an IoT innovation in business, download a copy of the report from
www.arm.com/EIUReport and join the debate. Every idea suggested for
a beneficial business-to-business or consumer IoT application or
service will give you the chance to win a Galaxy Note 3 and Samsung
Galaxy Gear.
About ARM
ARM designs the technology that is at the heart of advanced
digital products, from wireless, networking and consumer
entertainment solutions to imaging, automotive, security and
storage devices. ARM’s comprehensive product offering includes RISC
microprocessors, graphics processors, video engines, enabling
software, cell libraries, embedded memories, high-speed
connectivity products, peripherals and development tools. Combined
with comprehensive design services, training, support and
maintenance, and the company’s broad Partner community, they
provide a total system solution that offers a fast, reliable path
to market for leading electronics companies. Find out more about
ARM by following these links:
Download Shared Purpose - 8 Leadership Lessons
for the Ecosystem AgeThe secrets of success from the Connected
Community surrounding ARM
ARM website: http://www.arm.comARM Connected
Community®: http://www.arm.com/communityARM
Blogs: http://blogs.arm.comARMFlix on
YouTube: http://www.youtube.com/armflix
ARM on Twitter:
http://twitter.com/ARMPROfficehttp://twitter.com/ARMMultimediahttp://twitter.com/ARMMobilehttp://twitter.com/ARMCommunityhttp://twitter.com/ARMEmbeddedhttp://twitter.com/ARMSoChttp://twitter.com/ARMToolshttp://twitter.com/SoftwareOnARM
About the survey
The Internet of Things business index: A quiet revolution
gathers pace is based on an Economist Intelligence Unit survey of
senior managers carried out in June 2013. The 779 respondents are
based in 71 countries, split regionally as follows: Europe (29%),
North America (29%), Asia-Pacific (30%); and rest of the world
(12%).
A total of 19 industries are represented in the survey, such as
financial services (14%), manufacturing (12%), healthcare,
pharmaceuticals and biotechnology (12%), IT and technology (12%),
energy and natural resources (11%), and construction and real
estate (10%). The sample is evenly split between large firms,
having annual revenue of more than US$500m, and small and mid-sized
firms. Nearly half of respondents (49%) are board or C-level, with
the balance made up of other high-level managers such as
vice-presidents, business unit heads and department heads.
About The Economist Intelligence Unit
The Economist Intelligence Unit is the world leader in global
business intelligence. It is the business-to-business arm of The
Economist Group, which publishes The Economist newspaper. As the
world's leading provider of country intelligence, The Economist
Intelligence Unit helps executives make better business decisions
by providing timely, reliable and impartial analysis on worldwide
market trends and business strategies. More information about The
Economist Intelligence Unit can be found at www.eiu.com or follow
us on www.twitter.com/theeiu.
ENDS
ARM, Artisan and AMBA and Cortex are registered trademarks of
ARM Limited. CoreLink, big.LITTLE, Mali and POP are trademarks of
ARM Limited. All other brands or product names are the property of
their respective holders. “ARM" is used to represent ARM Holdings
plc; its operating company ARM Limited; and the regional
subsidiaries ARM Inc.; ARM KK; ARM Korea Limited.; ARM Taiwan
Limited; ARM France SAS; ARM Consulting (Shanghai) Co. Ltd.; ARM
Germany GmbH; ARM Embedded Technologies Pvt. Ltd.; ARM Norway, AS
and ARM Sweden AB.
ARM Press ContactPhil Hughes,
+1-512-330-1844phil.hughes@arm.com
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