The Current State of the Internet of Things—Continuity and Change, Commonalities, and Fragmentation

In this second annual Frost & Sullivan IoT user survey, we begin to gain a longitudinal understanding of continuity and change.

A total of 606 respondents participated in the survey conducted in Q3 2022, with IT and Business Decision makers responsible for Respondents representing a range of industries, organization sizes, and global regions.

The results provide a glimpse of enterprise decision processes, including:
•     How they rank challenges and priorities;
•     What infrastructure options they are using and planning to add;
•     What questions and characteristics they look for in decision-making;
•     The approximate ranking of spending on components;
•     And growth expectations.

By many measurements, the results of the 2022 survey reveal the persistence of common challenges and business objectives across industry verticals and geographies.

Security and data protection remains the top challenge to implementation, while new items emerged, such as environmental, social, and governance (ESG).

Some notable changes are observable in the industry outliers and regional groupings in questions regarding the perceived benefits of IoT, wireless connectivity, data volumes, and applications. Regional differences are stark in predicting a possible recession. The fears are most pronounced in Europe. While inflation and supply chain issues may be subsiding, 51% of global respondents expect growth next year. The unique experiences of 2022 result in rising concerns about long lead times, hiring and retaining talent, and in the importance attached to finding new monetization streams.