IoT Barometer Report reveals optimism over IoT's potential outcomes
Vodafone's fifth annual IoT Barometer Report - a global survey of business sentiment regarding investment and innovation in the internet of things (IoT) - reveals South Africans' optimism over possible business outcomes from IoT.
The IoT Barometer research surveyed 1,278 respondents in 13 countries: the US, Brazil, Ireland, UK, Germany, Italy, Spain, South Africa, China, India, Japan, Australia, and New Zealand.
South Africa represented approximately 10% of the participants including retail, manufacturing, energy and utilities, healthcare, transport and logistics, automotive, consumer electronics and the public sector. Responses were received from decision makers across a range of organisations - from SMEs to larger multinationals.
Key research findings for South Africa
Europe, the Middle East and Africa (EMEA) polled higher than the global average (71%) when it came to the topic of the future of IoT, with 74% of EMEA respondents stating that by 2022 we will no longer talk about IoT - it will just be business outcomes. Key research findings for South Africa include:
- 88% of South African respondents say their digital strategy is generating measurable business value.
- 86% of South African respondents say they are optimistic about the possible business outcomes of connecting almost everything.
- 77% of South African respondents say that their core business strategy has changed as a result of adopting new technologies.
- 57% of South African respondents will be using IoT in the next 12/24 months to manage risk.
Deon Liebenberg, managing executive for IoT at Vodacom, says: “Vodafone’s latest research findings prove that IoT is becoming an essential component of digital strategy in South Africa, with respondents confident that IoT will improve their business outcomes in future.
"The adoption of connected ‘things’ is gathering speed. Vodacom expects to see the South African IoT market mature significantly over the next year, particularly through the commercialisation of NarrowBand IoT networks, which will make the benefits of IoT more visible for both businesses and consumers.”
In terms of key global trends, the report found that:
- The percentage of companies with more than 50,000 connected devices active has doubled in the last 12 months
- 84% of IoT adopters say that their use of IoT has grown in the last year
- 51% of IoT adopters say that the technology is increasing revenues or opening up new revenue streams
- 66% of all companies agree that digital transformation is impossible without IoT
The full global report can be accessed here.
