IoT Connectivity Survey Indicates Networking Investment on Rise
In a recent survey on IoT World Today on IoT and connectivity trends, we learned that respondents are investing in IoT projects generally and in networking connectivity for their IoT projects specifically. Nearly 60% of respondents expect an increase in IoT budgets in 2021.
We invited members of the Omdia research team to discuss some of the findings. Welcome Josh Builta, director of research, IoT, and Lee Ratliff, principal senior analyst, IoT connectivity.
Some of the general findings included the following:
- Nearly 60% anticipate an increase in overall IoT budget in 2021. Only 7% anticipate a decrease.
- About respondents (57%) anticipate an increased or unchanged networking budget in 2021 compared with 2020, while just 7% anticipate a decrease.
- The primary benefits expected with networking upgrades are improved security (50%), more reliable communication (43%), and reducing costs (42%). Only 31% cite lower latency as a key benefit.
- Respondents plan on upgrading to public 5G (34%), Wi-Fi 6 (28%), and private 5G (26%). Is this consistent with where you think enterprises are, Josh? Is 5G still in future tense for most enterprises?
- The greatest challenges in deploying IoT projects are security concerns (34%), followed by constrained budgets (27%). Connectivity and integration are still significant challenges for one-quarter.