We are pleased to introduce MEF’s short insight report examining the extent to which IoT has been implemented in enterprises and the degree to which they are planning to grow their IoT implementations over the next twelve months.

We spoke to senior individuals with responsibility for IoT in 450 organisations ranging from 250 employees to large undertakings across nine key global markets in Africa, North and South America, Asia and Europe. All these enterprises are already IoT applications and are drawn from key IoT sectors and verticals including – Automotive / Transportation & Storage/ Logistics and Supply Chain / Utilities / Healthcare Manufacturing and Industrial / Retail and Wholesale/ Agriculture.

Key Takeaways:

  • Gaining business advantage is the key driver for IoT application development

  • Utilities, automotive and retail have the most live IoT applications with almost 2 per company on average

  • The majority of companies have just one application in development. The strongest sector for new IoT is Manufacturing and Automotive

  • There are longer term plans for IoT growth Globally 63% of companies expect IoT implementations to grow by at least 5%

  • Every country and every sector have had their IoT plans significantly or completely changed by COVID

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The analysis of the data points to some interesting findings. We see that the main driver for implementing IoT is using technology for business advantage followed closely by achieving process improvements. Cost savings are not a key consideration. Enterprises have on average of just under 2 (1.7 mean) live IoT applications with a majority (57%) having under 100 connected modules. The outlook is encouraging with a mean of 1.2 applications globally in development. Globally 63% of companies expect IoT implementations to grow by at least 5% and 35% expect 10% growth.

James WilliamsDirector of Programmes