UK businesses say IoT 'vital for success'

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UK’s businesses see Internet of Things (IoT) as essential to their success. This is according to a new report by Vodafone. The Digital, Ready? report says the larger the enterprise, the more important IoT becomes.

Out of 2,000 business leaders that were polled for the report, 58 per cent believe IoT is essential to their organisation’s success. Among businesses with 49 employees, 41 per cent see IoT as vital, rising to more than two thirds (67 per cent) among large enterprises with 2,500 employees or more.

Almost two thirds (64 per cent) of all respondents think IoT will improve their business operations, and 62 per cent think everyone will benefit from it.

When it comes to adoption, however, things aren’t as bright. Almost a third (31 per cent) doesn’t have it implemented, but plans on doing so within the next two years, including 25 per cent of smaller businesses, 39 per cent among medium ones (up to 250 employees), and 30 per cent among large enterprises.

Vodafone also says the biggest roadblock to mass adoption is the overall lack of understanding. More than four in ten think IoT is too complex, and a third (36 per cent) admit they don’t understand the technology.

“IoT can drive innovation and value within an organisation, helping it to achieve operational efficiencies, build more valuable relationships with its customers and facilitate entirely new business models,” commented Anne Sheehan, Enterprise Director, Vodafone UK.

“I believe it offers all organisations a huge opportunity to thrive in this digital age –  and they must seize this opportunity now.  I’m really encouraged that businesses recognise the role IoT can play; and as global leader in IoT, consider it our role to bring the opportunities to life. There’s no doubt we will see many more applications in the months and years to come.”

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