The key findings from Eseye report have revealed that most of the IoT projects was not as successful as it could have been due to security, device onboarding and connectivity challenges.
Eseye, an IoT connectivity specialist have released the report examining the state of IoT adoption in US and UK. The research exploring the opportunities, have listed challenges and trends in implementing IoT.
“Our objective when undertaking this research was to understand the state and scale of IoT adoption and …to understand more clearly what organisations are grappling with as they prioritise and accelerate their IoT plans. We know connectivity has been an issue and uncertainty about both initial and lifetime device connectivity is a huge concern for businesses rolling out large-scale IoT projects,” Eseye stated.
The study has been conducted among 500 UK and USA based senior decision makers and implementers of IoT strategy in five vertical markets. The findings revealed that out of 500 respondents, only 10 per cent had deployed between 10,001 and 100,000 devices in the field. The vast majority (88%) had deployed less than 10,000 devices. Only 2 per cent had deployed more than 100,000 devices. This highlights that cellular IoT deployments have still not reached anywhere near critical mass.
Organisations struggle to reap the rewards of IoT
Though the study noted the pandemic has accelerated businesses to prioritise IoT, overall 77 per cent of the respondents said their project was only at best somewhat successful in meeting expectations and releasing benefits. IoT in healthcare and medical devices sector is found to be very unsuccessful. The report states the businesses are facing various challenges such as device onboarding, connectivity and security.
Forty one percent respondents have stated cellular connectivity as the biggest challenge in UK, while this is comparatively less in the US. Eseye claims that managing the estate and all the device contracts, US respondents found more challenging than the UK (37% versus 31%) whereas device deployment and rollout was more of an issue for UK respondents (36% versus 28%). UK organisations have multi region deployments than the US that is focused on the domestic market.
However, almost all businesses consider IoT a priority, with more than half (54%) planning future projects. More businesses were ready to increase budget for IoT, with EV charging and smart grid sector planning the biggest investments.
“Our results indicate that there is a level of maturity and an eagerness to fuel adoption plans here in the UK. Surveyed UK companies see IoT as a way to increase profit and reduce costs as well as disrupt business models and introduce new product lines,” said Nick Earle, CEO, Eseye.
“However, adoption is not without its challenges. We know security and connectivity have been an issue and uncertainty about both initial and lifetime device connectivity is a huge concern for businesses rolling out large-scale IoT projects,” he added.