Back19% firms globally adopt Internet of Things: Forrester
Another 28% are planning to deploy Internet of Things in the near future
Premium
New Delhi: About one in five firms globally have already adopted Internet of Things (IoT), while another 28% are planning to deploy it in the near future, said a 14 January study by the US-based technology and market research firm Forrester Research.
IoT is usually defined as a worldwide network of “things" that include identifiable devices, appliances, equipment, machinery of all forms and sizes with the intelligence to seamlessly connect, communicate and control or manage each other to perform a set of tasks with minimum intervention.
According to mobile, online and digital market research firm Juniper Research, the number of IoT connected devices is expected to reach 38.5 billion in 2020, up from 13.4 billion in 2015, a rise of over 285%.
The Forrester report is based on a survey of 3,627 business and technology decision-makers located in Australia, New Zealand, Brazil, Canada, China, France, Germany, India, the UK, and the US.
“About 19% of respondents report IoT usage today, with 28% planning to adopt in the near future, across 10 established and emerging countries on five continents," the report said. Of all the regions, emerging markets showed the strongest interest in implementing IoT.
China and India lead the pack, with 72% of respondents reporting use of or plan to use IoT. While firms based in Australia and New Zealand report adoption rates of around 37%, with 17% of them already deploying IoT use cases and 20% planning to use it, 38% of North American firms said they are either using IoT or planning to adopt. Latin American and European companies showed modest interest towards IoT at 52% and 42%, respectively.
The report also found that enterprises are more likely to adopt IoT than small and medium-size companies.
According to the study by the Forrester Research, the major IoT applications that are being adopted include fleet management in transportation, security and surveillance applications in government, inventory and warehouse management applications in retail and industrial asset management in primary manufacturing. Smart products in health care, energy management in the utilities sector and supply chain management in pharmaceuticals remain some other wide-spread usage across countries.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
