As businesses continue navigating what is undeniably today’s rapidly evolving digital landscape, the Internet of Things remains transformative. From smart home integrations and health wearables to leaps in industrial automation and interconnected smart city technologies, investments in IoT are on a very promising rise.
To that point, a new report titled “Omdia’s 2024 IoT Enterprise Survey” highlights a significant surge in enterprise confidence when it comes to the expansive benefits of IoT.
“56% of companies have invested over $1 million on IoT in 2024, a big-time increase from 36% in 2023,” explained Andrew Brown, IoT Practice Lead at Omdia.
Experts believe that IoT has, quote, “reached maturity” — yet interest is still rising. In the aforementioned survey, hundreds of respondents from nearly a dozen countries were queried about their respective IoT deployment strategies; the primary drivers, challenges encountered, thoughts on device deployment statistics and spend, and more.
In that vein, results indicate that a staggering 95% of respondents do expect to see great (and highly measurable) returns on their IoT investments by 2026.
Here at IoT Evolution World, we do our very best to abscond from bias and report on industry updates and the raw numbers therein. But in this same breath, we can’t deny that we’re pretty darn stoked about organizations that are increasingly adopting cutting-edge IoT solutions and leveraging hyperscaled connectivity to the best of their abilities (with tangible results, to boot). Trackable improvements made to operational efficiency in factories, remote monitoring capabilities for fleet managers, even IoT sensors that analyze different types of (controlled) burning wood so first responders can proactively detect and respond to wildfire crises — if I may word this casually for just a moment, “IoT ain’t showing signs of slowing down.”
“Furthermore,” another IoT analyst added, “the convergence of IoT and AI is creating greater opportunities for enterprises looking to make data-driven decisions that optimize worker safety and productivity.”
On a closing note, we will say that caution is, of course, still a must. With both IoT-centric projects, harnessing artificial intelligence (both, really), avoiding what experts define as “unnecessary complexities” is just as important as embarking on a new buzzworthy venture. To ensure successful implementation, businesses need to look past capitalizing on pure hype; they should carefully consider their specific budgets and mission-imperative needs, then choose the right technologies and partners. The growth of IoT (just like with AI) is not to be trifled with; rather, it should be looked at as a reasonable springboard for responsible innovation, as opposed to an end-all-be-all to dump everything all at once into.
As with most things in life, due consideration and proper guidance should take the lead.
Explore this promising expansion of the Internet of Things at IoT Evolution Expo 2025, which will be taking place from February 11-13, 2025, in Fort Lauderdale, Florida. Part of the #TECHSUPERSHOW experience, this event combines educational conference programming with a robust exhibit hall, networking events and other activities, bringing together buyers and providers of business technology products and services that are huge for IoT.