The Report – the "Vodafone IoT Barometer 2017/18", is the leading global survey of business sentiment relating to investment and innovation in the IoT. One of its key findings shows Asia is leading the way in connected device adoption and more importantly – globally IoT has hit critical mass and is now being deployed at scale.
The report found:
- 77% of Asia's businesses see IoT as mission-critical to their business;
- 88% of Asian respondents have increased the use of IoT solutions in the past 12 months;
- Over half (53%) of Asia's enterprises say IoT has increased their market competitiveness;
- 42% of Asia businesses have more than 1000 connected devices and 53% are seeing significant returns on investment.
When it came to optimism and the future – the report found:
- 91% believe IoT will have an enormous or sizeable impact on the wider economy in the next 5 years;
- 79% believe IoT usage will rise as security and privacy concerns greatly reduce;
- 91% believe cross industry collaboration will generate joint IoT solutions;
- 89% believe AI and machine learning will be commonplace by 2022.
Vodafone, Director of IoT for APAC, Justin Nelson said, "This is a defining moment for IoT. Asia's businesses now see IoT as a core component of their current and future business, and their confidence in it delivering a competitive advantage is soaring. "