London, July 15, 2022: Enterprises are not only increasing their IoT spending and their deployment of devices but are doing so because IoT projects are meeting or exceeding return on investment (ROI) expectations according to the latest Internet of Things (IoT) Enterprise Survey by research firm Omdia.
Omdia surveyed approximately 500 enterprises across countries that are deploying or are in the process of rolling out IoT solutions and found that over 90 percent of enterprises said their IoT projects have met or exceeded expectations.
“Both IoT and 5G have been derided as overpromising and underdelivering,” said John Canali, IoT Principal Analyst, Omdia, “yet the IoT market is still developing and 5G technology is still evolving. While sometimes outrageous proofs of concept are touted for headlines, our survey results are clear: enterprises are embracing IoT and 5G is emerging as the preferred type of connectivity.”
Communications service providers, said the research firm, will likely see growth in high-bandwidth, high-value connections as 66 percent of enterprises are using or plan to use 5G connections while 53 percent of enterprises are using or plan on deploying new connections using LTE. The responses were similarly encouraging for growth in low-bandwidth connectivity such as NB-IoT and LoRaWAN.