Tata finds 26 companies set to spend $1 billion on the Internet of things in 2015

Twenty-six companies (including 14 in the US) plan to spend $1 billion or more each on Internet of things initiatives in 2015 according to research out from Tata Consultancy Services. That billion-dollar group comes from seven industries: six from banking and financial services; five from automotive; four from travel, hospitality, and transportation; four from high tech; three from insurance; two telecommunications firms; one retailer; and one from healthcare and life sciences.

Those companies are outliers, but a broad swath of businesses intend to invest $86 million in 2015 -- or 0.4 percent of their revenue -- on Internet of things projects according to Tata Consultancy. And while surveys about the purported value of the Internet of things are a dime a dozen, this one also offers excellent points about the cultural changes that would need to accompany the technical implementations if businesses really wanted to take advantage of the promise of the Internet of things.