Around the world, spending on the Internet of Things (IoT) accounts for 24 percent of the IT budget.
This and many such insights are part of the research report, ‘The Barometer Report’ released by Vodafone today. This is he fourth such annual report.
The report is based on independent research conducted with nearly 1,100 decision-makers, giving an unparalleled insight into the reality of enterprise IoT use today.
It gives readers “robust data” that can be used to benchmark a business. It also provides exclusive insights from specialist IoT analysts Machina Research, and in-depth interviews with leading IoT adopters including Philips Lighting.
The report explores how:
- IoT is increasingly at the heart of today’s business landscape. 76 percent of businesses say that IoT will be “critical” to their success, and adopters allocate more budget to IoT than to cloud or analytics.
- IoT is being used to drive business change. Already 37 percent of adopters say they run their entire business on IoT, and 48 percent say they’re using IoT to support large-scale business transformation.
- Enterprises are seeing dramatic results. 63 percent say they’ve seen “significant” return on investment, and on average they measure a 20 percent improvement in metrics like revenue, cost, downtime and utilisation.
- IoT is integral to enterprise IT. More than 90 percent of adopters say they already integrate IoT data with cloud, mobile, analytics and ERP.
Click here to download the report.
Image Credit: Vodafone