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New Economist Intelligence Unit report on global IoT market

Daniel Nenni

Admin
Staff member
Today, the Economist Intelligence Unit issued its latest report: "The IoT Business Index 2020: A Step Change in Adoption". Sponsored by Arm, this is one of the longest-running business studies into IoT, offering a rare global measure of IoT implementation.

You can read more about the report in this blog and access the full study here.
Highlights include:
  • Since 2017, IoT adoption has advanced substantially; the average company is now on the cusp of early implementation of IoT-powered products and services.

  • Progress reflects increased investment: 82% of execs surveyed say their organizations grew their IoT investment in the past three years, up from 62% who said the same in 2017. This investment is delivering returns, respondents say: most agree either “somewhat” (38%) or “strongly” (19%) that their use of IoT has delivered “more than its expected return on investment”.

  • Artificial intelligence (AI) is viewed as vital to realizing the value of IoT data. Just over a quarter of survey respondents (26%) say that IoT data are pivotal to their current or planned use of AI, with 56% identifying IoT as “one of many important sources” for AI initiatives.

  • Security concerns still hamper IoT adoption – 45% of respondents believe that security concerns have held back consumer adoption, and over a third (37%) say these concerns have discouraged their companies from pursuing an IoT strategy.

If you have any questions or would like to discuss these findings with an Arm expert, don’t hesitate to get in touch.


Download the Study
 
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