Firms continue to adopt Internet of Things technologies, but believe large-scale deployments and returns on investment may take longer than expected to materialize due to ongoing security and implementation challenges.

Companies are expanding existing IoT projects and launching new ones -- 60% this year versus 40% in 2016 -- due to increased interest in the technologies and the availability of solutions, according to more than 600 IoT decision-makers polled by consulting firm Bain & Co.

"We still feel the market is going to be very large," said Ann Bosche, a partner at Bain and co-author of the report. Customer expectations were tempered this year compared to 2016, "but were much more realistic and grounded," she said.

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