The Current State of the Internet of Things: Poised for Growth and Expansion in 2022–2023, Organizations are Concerned with Functionality

The Current State of the Internet of Things: Poised for Growth and Expansion in 2022–2023, Organizations are Concerned with Functionality

Highlights from the annual Frost & Sullivan Global IoT Survey

RELEASE DATE
22-Feb-2022
REGION
Global
Research Code: K734-01-00-00-00
SKU: IT04480-GL-CR_26303
$2,450.00
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SKU
IT04480-GL-CR_26303
$2,450.00
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Description

Internet of Things (IoT) technologies are fast becoming essential business tools and key parts of digital transformation for many organizations. IoT deployments are well suited, across the range of potential configurations and applications, to dovetail with efforts to achieve top reported business priorities.

Frost & Sullivan conducted a survey with 545 IT and Business Decision makers responsible for IoT-related purchases from October to November 2021, representing a range of industries, organization sizes, and global regions.

The results demonstrate that many enterprises recognize security and data protection as paramount, but some sectors and geographies feel less challenged—either because they underestimate the risk (to their peril) or because they feel adequately prepared. Moreover, on-premises storage will persist (especially in most mature markets). Many organizations do plan to diversify their IoT storage strategies (with hybrid and multi-cloud options) to cope with the massive amounts of data and compute needs. Relatedly, decision-makers see the nuts-and-bolts tactical issues of implementing and maintaining IoT solutions as the main obstacles, rather than struggling to build a business case. Consequently, organizations will likely seek service providers for help implementing and maintaining operations. Overall, decision-makers expect that IoT as a percentage of IT spending will grow, but that hardware may continue to consume large portions of budgets in light of supply chain disruptions.

Author: Nicholas Baugh

Table of Contents

Key Findings

Business Priorities Fit with IoT Capabilities

IoT Integration Lurching Towards Ubiquity

Research Objectives and Methodology

Respondent Profile

Security is a Significant Concern

Regional Differences in Security/Privacy Outlook

On-premises Storage for IoT Will Persist

Cloud Planning While On-premises Data Storage Persists

Tactical Issues of a Deployment are Most Challenging

Expanding Universe of Benefits Propel Growth of IoT

Top Requirement is Network Availability

Wireless Connectivity

Hardware Expenditures Still High, and Holding?

Investments Forecast to Grow

Financial Services Sector Appears Poised for Big Purchases

The Last Word

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
Internet of Things (IoT) technologies are fast becoming essential business tools and key parts of digital transformation for many organizations. IoT deployments are well suited, across the range of potential configurations and applications, to dovetail with efforts to achieve top reported business priorities. Frost & Sullivan conducted a survey with 545 IT and Business Decision makers responsible for IoT-related purchases from October to November 2021, representing a range of industries, organization sizes, and global regions. The results demonstrate that many enterprises recognize security and data protection as paramount, but some sectors and geographies feel less challenged—either because they underestimate the risk (to their peril) or because they feel adequately prepared. Moreover, on-premises storage will persist (especially in most mature markets). Many organizations do plan to diversify their IoT storage strategies (with hybrid and multi-cloud options) to cope with the massive amounts of data and compute needs. Relatedly, decision-makers see the nuts-and-bolts tactical issues of implementing and maintaining IoT solutions as the main obstacles, rather than struggling to build a business case. Consequently, organizations will likely seek service providers for help implementing and maintaining operations. Overall, decision-makers expect that IoT as a percentage of IT spending will grow, but that hardware may continue to consume large portions of budgets in light of supply chain disruptions. Author: Nicholas Baugh
More Information
No Index No
Podcast No
Author Nicholas Baugh
Industries Information Technology
WIP Number K734-01-00-00-00
Is Prebook No
GPS Codes 9705-C1,9AD1-C1,9658,9655,9B07-C1