Despite the forward momentum, a new study conducted by Cisco shows that 60 percent of IoT initiatives stall at the Proof of Concept (PoC) stage and only 26 percent of companies have had an IoT initiative that they considered a complete success. Even worse: a third of all completed projects were not considered a success.
While 26% may, at first, seem bad, if you baseline it against the Standish Chaos reports, it looks pretty normal for an IT project:
In 2015, Standish’s study said about 29% of projects were considered a success. There’s a 2016 report out too, but it’s hard to find anything more than an outline of it. I’ve never figured out how legit the CHAOS report is, but it seems a-OK.
Point being: innovating in software, let alone the business around that software, is all about failure. ~25% success rate is pretty good.