MachineQ, the IoT unit of broadband service provider Comcast, is touting survey results that show enterprise IoT deployment is increasing, and also that companies deploying the technology are expecting a very rapid return on investment.
The company recently issued the report “Today’s Needs and Tomorrow’s Demands: Uncovering Enterprise Priorities for IoT Adoption,” which was based on a survey of more than 200 corporate enterprises with North American operations that was commissioned by MachineQ and conducted by research firm Omdia.
Among the findings, about 46% of enterprises surveyed said they were in the early stages of their IoT journey, meaning that they currently are exploring, planning, or trialing an IoT deployment. But, asked where they believe they will be in two years with IoT, almost 80% said they expect to be in an active or expansive phase–or to have completed their IoT projects by then.
Furthermore, within the next two years, about 70% uf survey respondents expect to have more than 50,000 IoT devices deployed across their enterprises, with an intriguing 5% of respondents saying they expect to have more than 1 million deployed.
Those companies want a quick return on investment (RoI) for their efforts, with 67% of respondents saying they expect ROI within one year of deployment. However, length deployment times remain an issue for enterprises investing IoT, and the survey results noted that 49% of survey respondents stated that their biggest roadblock to achieving RoI is long deployment times.
There are even more challenges confronting enterprises as they look to achieve RoI on their IoT deployments. About 48% cited ongoing supply chain issues as the biggest roadblock for them, and 42% saying that budgeting issues are getting in the way. Other survey respondents cited lack of internal or external tech support, and problematic technology integrations as hurdles.
MachineQ, which provides the long-range wide area network (LoRaWAN) connectivity many large-scale IoT networks can be cheered by some additional survey results: About 63% of LoRaWAN users are in the latter stages of an IoT project, and 93% said they expect to be in the latter stages or have completed projects within two years.