76% of Businesses Say IoT Critical to Future Success

Vodaphone's fourth annual IoT Barometer Report found that:

• 89 percent of companies investing in IoT have increased their budgets over the last 12 months.
• 76 percent of all companies interviewed believe that taking advantage of IoT technologies will be critical for the future success of any organization.
• 63 percent of IoT adopters are seeing "significant" returns on investment, up from 59% in last year's Report.
• IoT investment now accounts for 24 percent of the average IT budget, on a par with cloud computing or data analytics.

The Report also found that IoT technologies play a key role in mainstream business activities in an increasing number of companies. Highlights included:

• 48 percent of companies interviewed are using IoT technologies to support large-scale business transformation, rising to 61 percent in the Asia-Pacific region.
• 52 percent of consumer electronics companies interviewed are using IoT technologies as the basis for a new generation of applications for connected homes.
• 46 percent of all companies interviewed said they intend to develop new IoT-based products and services over the next two years.

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