LONDON–(BUSINESS WIRE)–Oct 1, 2020–
Vodafone Business today launches its 2020 IoT Spotlight report, focused on the impact IoT is having on businesses at a time when their digital capabilities are put to the test by the COVID-19 pandemic.
The IoT Spotlight features responses from 1,639 businesses globally, exploring how they are using IoT and how IoT is helping them be ready for the future.
During the COVID-19 crisis, IoT has made the difference
The COVID-19 pandemic has forced almost all businesses to change their working practices and priorities in a matter of weeks, with the findings showing 77% of adopters increased the pace of IoT projects during this time.
Adopters clearly believe IoT was vital to keep them going: 84% said the technology was key to maintaining business continuity during the pandemic. As a result, the majority of adopters ( 84% ) now view the integration of IoT devices with workers as a higher priority and 73% of businesses considering IoT agree the pandemic will accelerate their adoption plans.
IoT is key to improving business performance
The research findings are clear: IoT continues to generate value and ROI for adopters and 87% agree their core business strategy has changed for the better as a result of adopting IoT.
Almost all ( 95% ) say they have achieved a return on investment and 55% of adopters have seen operating costs decrease by an average of 21%.
From improving operational efficiency to creating new connected products and services, key benefits of IoT deployments include boosted employee productivity ( 49% ) and improved customer experience ( 59% ) .
Data is the key to future readiness
You can’t manage what you can’t measure. IoT data is becoming essential to support businesses’ decision-making ( 59% ) and the majority of adopters (84% )