MEF Programme Director for IoT Nassia Skoulikariti shares an overview of the latest white paper to be produced by the MEF IoT Programme, the 2022 Enterprise Survey, looking in depth at organisational drivers, plans and supplier opportunities for the global IoT market.
We’re pleased to introduce this year’s Enterprise IoT Survey. Our goal was to understand your interest in IoT and explore the key issues, business drivers and technology choices you face when introducing an IoT strategy.
As part of our research, we surveyed senior executives from across the globe to understand how businesses are regarding IoT and its use. Most companies base their strategies on three main pillars: product/service offering, people, and organization. Knowing the strengths and weaknesses of each element is vital for developing and expanding your business, and IoT services, solutions and products are not any different.
We hope these findings will help suppliers improve their approach to enterprise IoT. It is equally important to understand customers’ expectations regarding product features, pricing and distribution channels.
For business leaders, the immediate concern over wireless internet technology is its cost. It leads them to look for inexpensive alternatives that can implement in their organizations at a minimal financial outlay. 90% of organizations cite cost reduction as a top priority. 4G NB-IoT has proven to be a reliable wireless solution with practical applications in industries such as agriculture and mining. In addition, LoRaWan and Wifi were top of the list.
Concerning what makes 5G special, there are no doubt networks will become faster. Still, for them to become even faster, companies need systems that can provide more consistent connections so users can continue working without interruption or have greater flexibility when connecting with other devices.
The features of 5G that attract enterprise attention are improved manageability and reduced power consumption. 60% of companies view 5G as a potential wireless technology.
Technology is integral in implementing IoT solutions; beyond connectivity, improvements, improved efficiency and manageability, new capabilities such as low latency, high bandwidth and low power consumption are also being looked at by companies as areas of improvement.
96% of companies expect IoT implementations to increase by at least 5%.
Other key considerations when implementing IoT solutions include processing IoT data at the edge, using digital twins, and remotely managing devices.
We asked companies who they trust to deploy their IoT solutions, and 86% said system integrators would be their first choice.
Surprisingly, MNOs rank the lowest on the trust scale, with 60% of companies saying they would choose them as a trustworthy partner. In contrast, 84% say they trust hyperscalers like Amazon and Google.
Professional solutions and technical support are essential supplier qualities when a company chooses a supplier.
Suppliers in all vertical sectors have three key priorities:
- End-to-end delivery and support for an IoT project
- Integrating all elements of the solution
- Providing a cost-effective solution
To dive deeper into the survey findings, download your copy of the report today.
Organisational Drivers, Plans and Supplier Opportunities
The 2022 Internet of Things (IoT) Market Report is a survey of global enterprises with a goal to better understand how organizations are using or plan to use the Internet of Things (IoT), and to identify the key challenges, priorities, and opportunities.