IoT Spotlight 2020



We asked businesses how they were using IoT solutions to succeed

The world is changing. The IoT market is maturing. We surveyed 1,639 companies to discover the positive effects that IoT is having on their businesses. We have learned how they are building resilient strategies using the technology, to survive and thrive in the future.

Executive summary

Video commentary

Key IoT business benefits

Achieve sustainability goals

Companies are using IoT technology to improve their environmental impact on the world. 84% are using IoT to fundamentally improve their environmental sustainability.

Improve productivity

IoT helps businesses prioritise and free up employees' time for high value activities. By innovating, industries are discovering opportunities to create new revenue streams. 73% of mature IoT adopters have seen a significant return on investment from IoT.
84-percent

Support business continuity

IoT is helping businesses quickly adapt working practices during the COVID-19 pandemic. 84% of IoT adopters feel IoT has ensured business continuity.

Drive innovation

Companies are using IoT to access untapped data to drive strategic thinking and develop innovative projects to future proof their businesses.
87-percent

Business Success

IoT is a future-proofing technology. 87% of businesses say it's critical for their future success.

Improve Customer Experience

Being able to adapt faster to changing market conditions and to offer new products and services can reinvent the customer experience.

IoT Spotlight at a glance

This year’s research has shown that IoT adoption continues to grow, despite the challenges of the COVID-19 pandemic. That’s because IoT continues to generate value and return on investment for the majority of the businesses that we surveyed.

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The great majority (84%) of IoT adopters – surveyed at the peak of the COVID-19 crisis – felt IoT has ensured business continuity and maintained operations. And even if some businesses decided to take a step back from their IoT projects due to local lockdowns and downturns in their sector, 81% of adopters say they are prioritising IoT higher than they did before.

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The increased adoption of IoT is changing the way businesses operate, the way they invest, and how competitive they are. Importantly, almost two-thirds (63%) of businesses say IoT is completely disrupting their industry. As companies continue their journey towards digital readiness, they are seeing IoT as an essential component of their future.

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IoT has the potential to change lives and business for the better – from enabling new, more sustainable services like electric car sharing to improving energy efficiency; from supporting remote healthcare to ensuring mission-critical services continue to operate. The majority of the businesses surveyed see immediate business and societal benefits from IoT. And they also understand how it can power innovative, new connected services.

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Businesses are changing the way they approach IoT. The report looks at how attitudes towards IoT are changing as the benefits of adoption become more apparent.

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Why is IoT adoption growing?

This year’s research has shown that IoT adoption continues to grow, despite the challenges of the COVID-19 pandemic. That’s because IoT continues to generate value and return on investment for the majority of the businesses that we surveyed.

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The impact of COVID-19

The great majority (84%) of IoT adopters – surveyed at the peak of the COVID-19 crisis – felt IoT has ensured business continuity and maintained operations. And even if some businesses decided to take a step back from their IoT projects due to local lockdowns and downturns in their sector, 81% of adopters say they are prioritising IoT higher than they did before.

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Future ready businesses

The increased adoption of IoT is changing the way businesses operate, the way they invest, and how competitive they are. Importantly, almost two-thirds (63%) of businesses say IoT is completely disrupting their industry. As companies continue their journey towards digital readiness, they are seeing IoT as an essential component of their future.

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What's next for IoT?

IoT has the potential to change lives and business for the better – from enabling new, more sustainable services like electric car sharing to improving energy efficiency; from supporting remote healthcare to ensuring mission-critical services continue to operate. The majority of the businesses surveyed see immediate business and societal benefits from IoT. And they also understand how it can power innovative, new connected services.

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Benefits and maturity

Businesses are changing the way they approach IoT. The report looks at how attitudes towards IoT are changing as the benefits of adoption become more apparent.

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