Adoption of Internet of Things (IoT) technologies has more than doubled since we launched the first Barometer in 2013. And the organisations that have adopted IoT are pushing ahead.
IoT has come a long way since our first Barometer was published. Today, organisations are using IoT to create completely new services and transform their businesses. Two-thirds of companies that have adopted IoT say that it’s already mission-critical. And nearly all of them have already seen a return on their investment.
Those returns can be significant — where organisations reported an increase in revenue from adopting IoT, it averaged 19%. Where they reported a reduction in costs, the average was 16%.
That’s why they’re investing more in IoT and doing more of it. The proportion of adopters that have embraced IoT on a massive scale — more than 50,000 connected devices — has doubled since 2016. And the majority of adopters say they’re spending more on IoT than 12 months ago.
The IoT Barometer 2017/18 is based on data from an independent study conducted by Circle Research, which surveyed 1,278 enterprise and public sector executives from 13 countries. It explores:
How adoption has grown since 2013 and what the IoT landscape looks like today.
Why organisations are adopting IoT and the benefits they’re experiencing — from reduced costs to business transformation.
What adopters are doing to push ahead and why they see security as an enabler of IoT.
What’s happening in key industries.
What adopters expect from IoT in five years’ time.
The report includes exclusive commentary from Analysys Mason, a global consultancy and research firm specialising in telecoms, media and technology for more than 30 years. The report also includes excerpts from interviews with IoT adopters from different industries and regions.
Wherever you are on your IoT journey, the Barometer provides insights that can help you take the next step.