A new study released by UK-based research firm Omdia confirms some of the positive industry forecasts for enterprise IoT uptake, with nearly four out of five companies planning to actively engage in IoT within the next two years. I understand that you expect it to expand.
Commissioned by IoT connectivity vendor MachineQ and gathering responses from more than 200 companies in the manufacturing, retail, real estate and construction, healthcare, and life sciences industries, 70% of respondents said they want more networks I also know that you said you plan to. Over 50,000 of his IoT devices will be deployed within the next 24 months.
Part of the reason for this acceleration, according to the survey, is that businesses now believe they can expect a relatively fast ROI from their IoT spending. This ROI can take many forms, from maintenance savings through better oversight in manufacturing environments to more effective in-store marketing in retail, but quick ROI is now achievable. There seems to be a growing consensus. About 70% of respondents expect to recoup their IoT investment within a year, and 40% expect to recoup their investment within six months.
IoT Adoption Still Faces Hurdles
Nevertheless, some companies still experience setbacks in their pursuit of IoT deployments. Deployment time appears to be a particular problem, according to Omdia’s survey, with 49% of his survey respondents saying that implementing an IoT system took longer than expected. Naturally, supply his chain challenges can be interconnected with it. 48% of respondents report that this is the problem that prevents them from achieving ROI from IoT technology.
Other reported roadblocks include budget issues (41%), lack of internal expertise in deploying and managing IoT technologies (39%), and lack of vendor support (38%). The last two questions are amplified by the answers to the question, what are the most important requirements for evaluating IoT solutions, with the clear top answer being “easy provisioning”. Nearly 30% of his respondents said this was their most important requirement, well ahead of 17% for “low total cost.”
Beyond the growing general consensus that ROI is relatively easy to achieve, the factors driving the adoption of the new IoT are very different across industries. While the industrial sector clearly has well-understood applications that can help drive growth, such as predictive maintenance and orchestration of complex machinery, other sectors, such as healthcare, have a completely different purpose. using his IoT. Another study, released in July by Orion Market Research, found that aging populations in developed countries could help drive remote monitoring and electronic health record applications, while surges in interest in health and fitness during the pandemic could lead to more connected people. We have found that the use of fitness monitoring devices is widespread. .
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