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A new Omdia survey shows businesses are ramping up investment into IoT services as they see positive results
August 15, 2023
Investments into IoT solutions are continuing to grow as businesses see gains in productivity, sustainability and cost benefits, a new Omdia IoT Enterprise Survey has found, with a particular focus on 5G, eSIM and fixed wireless access technologies.
Of the businesses surveyed, 70% said they plan to use 5G, while just under 90% of enterprises are set to deploy eSIM and iSIM technology over the next two years.
According to the survey, 95% of respondents said they anticipate seeing marked benefits from IoT deployments within two years of deployment.
“While some tech giants have scaled back their IoT efforts, enterprises are embracing IoT and seeing remarkable results,” said John Canali, IoT Principal Analyst, Omdia and author of the report. “In fact, enterprises are very forward-looking in incorporating new technologies like 5G, fixed wireless access (FWA), and eSIM/iSIM technology.”
While the findings are a positive sign for IoT solutions providers, they will also result in increased competition within the sector.
One obstacle highlighted in the report was the often complex nature of deploying these technologies within a business, requiring specific expertise to set up. In addition, ensuring the correct security is in place to protect a company’s increasingly online assets was cited as an issue for wide-scale deployment.
“Our survey suggests that there is a multitude of opportunities ranging from hardware, software, connectivity and services,” said Andrew Brown, IoT practice lead at Omdia. “However, security remains at the forefront of enterprise concerns and vendors must be able to not only offer secure products and services but also be able to effectively integrate into broader solutions.
“Vendors that fail to deliver secure solutions will find themselves locked out of this growing market.”
Assistant Editor, IoT World Today
Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.
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