Vodafone Barometer 2017; adoption, adoption, adoption.

It’s that time of year again; just as the leaves start to brown and the temperatures start to drop, Vodafone bring us out of our post-summer slump and give us a much needed IoT-boost with their yearly IoT barometer. For those who aren’t familiar with the publication, the barometer is Vodafone’s yearly IoT report which publishes information collected from a survey in which more than 1,000 enterprise and public sector executives from 13 countries participated.

This year, they decided to focus on IoT adoption and how far it’s come since the tech giant first starting publishing their yearly study on IoT back in 2013. Back then, for example, adoption was just 12% and we were still calling it M2M. Skip forward to today and we’re now looking at an adoption rate of 29%, which is more than double the original figure. This years barometer takes a look at the effect of IoT on the following industries; healthcare, transport and logistics, energy and utilities, retail and automotive. The retail sector, for example, has jumped to a 26% adoption rate, with the benefits of implementing IoT going way beyond cost-cutting. Adopters are using IoT solutions to reduce risks and increase revenue and efficiency, with a high percentage of them spending more on IoT than they were 12 months ago.

Furthermore, adopters have high expectations for IoT. The majority think that IoT will have an enormous or sizeable impact on the whole economy in the next five years. And almost three-quarters of them agree that digital transformation is impossible without IoT and that it will act as a gateway to other transformative technologies, such as artificial intelligence and machine learning.

One particular section of the Barometer that caught our eye, was that which address the need for creating IoT ecosystems, much like TheCUBE Madrid. For example, one-in-ten adopters say insufficient resources/skills internally is the biggest barrier to wider adoption of IoT. By collaborating, organisations can strengthen their own propositions and bring new solutions to the market that they wouldn’t have been able to do on their own. 81% of adopters think that in five years the most successful IoT projects will involve collaboration between multiple organisations, both inside and outside of their industry.

There’s no doubt that IoT adoption has skyrocketed this past year, however, despite these promising statistics, it’s still early days for IoT in terms of its potential. We look forward to reading the 2022 edition of the Vodafone Barometer, so we can see just how far IoT will go over the next 5 years.

To download your edition of the barometer, go to the following link: http://www.vodafone.com/business/iot/iotbarometer