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IoT Barometer 2019

IoT Barometer 2019

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SUMMARY

This report identifies growing numbers of companies adopting the Internet of Things (IoT) products and services and seeing tangible benefits of IoT usage.

Overall, there has been an increase in IoT adoption. 34% of companies are using IoT, which is a 5 point increase from the previous IoT Barometer. Further, more enterprises are exploring existing solutions. 92% of respondents have purchased IoT devices or bought services that integrate IoT. The benefits of digital solutions are being realized quickly. For instance, 95% of adopters have experienced significant benefits while just over half (52%) earned a significant return on investment. These benefits are strongly felt by the most (87%) IoT sophisticated companies. On the other hand, only 17% of businesses in the least sophisticated group have seen immediate benefits. Sophisticated companies benefit from IoT as analytics help gather data that will improve business decision-making.

What about concerns about security? Security is no longer a major barrier for adopters. Most companies (75%) believe they have the necessary tools to manage IoT security. With that said, it is easier for businesses to construct, deploy and monitor connected solutions. To assist with pilot projects and adoption, 45% of respondents would cooperate with an IoT platform provider. Moreover, there is a myriad of connectivity options for business, such as LTE-M, NB-IoT, and LTE-5G. To bolster connectivity, adopters are using AI and data analytics to effectively recognize trends.

The report recommends companies incorporate IoT devices, services and products in their value stack. Over half of the respondents claim IoT has utterly disrupted their industry. The industrial revolution to Industry 4.0 is approaching. 74% of adopters say that within five years enterprises that have not integrated IoT will be leagues behind their competitors. The opportunity to benefit from digital solutions is now.

OUTLINE

Executive summary

Key trends

Index

IoT use by industry

How to improve your IoT strategy

How to accelerate your IoT deployment

About the survey

Contributors

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
IoT Barometer 2019
Region
Global
Published
June 30, 2019
Publisher
Vodafone
Price
FREE
Language
ENGLISH

Content

Number of Pages
32
Number of Tables
0
Number of Exhibits
30
Topics
iot
Tags
adoption survey, automotive, energy, financial services, healthcare, iot adoption, manufacturing, transportation, vodafone
Methodology
The data in this report was collected through interviews of 1,430 qualified respondents that are responsible for directing their company’s IoT development. The authors also surveyed 328 IoT adopters. The respondents represent various regions, industries, and sizes.
EVALUATION

This report contains in-depth insights on the usage, adoption, and impact of the Internet of Things within various industries, regions, and businesses.

Thorough and robust data samples illustrate the positive impacts of IoT. Overall, this paper encourages further adoption and investments into IoT services. Companies that are doubtful of this new technology’s significance will surely change their minds and quickly invest in IoT pilot projects.

Positives

  • Broad data samples
  • Informative data figures

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