Globally, the average annual spend on IoT grew by 4% from 2017, according to Zebra Technologies Corporation’s second annual Intelligent Enterprise Index.
The average annual spend on Internet of Things (IoT) among enterprises in the Asia-Pacific region increased 12 percent year-over-year to $4.8 million in 2018, a new report revealed on Wednesday.
The average annual spend on IoT is up 4% year-over-year globally, according to the results of Zebra Technologies Corporation’s second annual “Intelligent Enterprise Index.”
About 86% of the companies surveyed globally expect the number to increase in the next 1-2 years, with nearly half expecting investment growth of 11-20%.
An intelligent enterprise is the one that connects the physical and digital worlds to drive innovation through real-time guidance, data-powered environments and collaborative mobile workflows, leveraging the IoT.
The index is a survey that measures where companies are on the journey to becoming an “intelligent enterprise”.
Intelligent Enterprise Index highlights
By scoring above 75 points on the overall Index, the number of companies globally defined as an “intelligent enterprise” doubled to 10% in 2018.
The result is based on criteria including IoT adoption and deployment strategies, the sharing of IoT information with employees and monitoring of IoT security.
In Asia-Pacific, the report revealed a significant increase in the number of companies that were rated as truly “intelligent” – growing up 20 percentage points to 22% this year. The average Asia-Pacific score increased from 49 points in 2017 to 63 points in 2018, thanks to the rapid adoption of IoT solutions in the region.
Security standards within IoT solutions
The Index revealed an 18 percentage point increase in the number of companies that are constantly – versus routinely – monitoring their IoT security to ensure privacy and integrity. In Asia-Pacific, the increase was 20 percentage points from a year ago.
As many as 40% of the companies surveyed globally report using a strategic partner to manage their entire IoT solution, up from 21% from 2017. This was higher in Asia-Pacific at 54%.
Decrease in resistance to adoption
The number of companies that expect resistance to their IoT plans moving forward has dropped from 75% in 2017 to 64% this year.
The study also showed that 52% of respondents globally say information from their IoT solutions is shared with employees in real or near-real time. This is up 37% from last year’s Index, underscoring the increased need for collaborative mobile workflows.
Asia-Pacific companies are more advanced in this area, with 58% of companies sharing data with employees in such frequency.