Omdia published a white paper that investigates organizational technology preferences and requirements and the challenges they confront while deploying IoT solutions. The report, sponsored by MachineQ, is called Today’s Needs and Tomorrow’s Demands: Uncovering Enterprise Priorities for IoT Adoption. The report explains LoRaWAN technology and how organizations may use it.
As the pandemic continues to upend economies and supply chains worldwide, enterprises are under increasing pressure to modernize their operations and remain competitive. For many organizations, this means adopting IoT solutions to gain benefits like productivity gains, safety improvements, energy efficiencies and cost savings.
According to the report, IoT is quickly becoming mainstream in enterprises, as shown by the steady increase in deployments. This growth is fueled by:
- The growing demand for low-cost networks
- Greater adoption among key verticals
- The need for particular solutions such as asset tracking
However, the growing number of IoT use cases also presents various challenges, from determining the right technology and solution partners to managing the complexities of deployment and maintenance. To better understand these challenges and enterprises’ preferences for IoT solutions, Omdia surveyed 200+ organizations with North American operations planning or deploying IoT solutions.
The survey results pointed to three key business needs and requirements from IoT solution partners: scalability, serviceability, and simplicity.
- Scalability refers to supporting the rapid deployment of IoT solutions across many campuses or geographies, from pilot to full-scale enterprise implementation. It also refers to creating an infrastructure supporting many connected devices and IoT use cases.
- Serviceability refers to offering strategic and technical support for the solution before and after IoT infrastructure, device, and solution deployment.
- Simplicity refers to removing the complexity of developing, launching and maintaining IoT solutions, regardless of the size of a business or industry.
Additionally, most respondents expected a return on investment (ROI) from their IoT projects within one year.
LoRaWAN was cited as an ideal technology for meeting enterprises’ needs, thanks to its ability to support the quick deployment of IoT solutions across multiple locations and its technical and strategic support for the solution’s lifetime.
Other notable report highlights included:
- Rapid ROI–67% of survey respondents expected ROI within twelve months.
- 49% stated their most significant obstacle to achieving ROI was long deployment times.
- Within the next two years, 80% of people expected to see further development in their IoT projects or to have already completed them.
- By 2024, 70% of respondents expected over 50,000 IoT devices to be operational, with 5% expected to have over 1 million.
- Though 63% of LoRaWAN users were in the advanced stages of an IoT project, 93% expected to be in a later stage or complete their projects within two years.
With nearly two-thirds of respondents expecting over 50,000 IoT devices to be deployed within two years, it’s clear that the IoT is here to stay. According to the report, enterprises that successfully navigate IoT adoption challenges can reap the benefits of this technology.
edge ecosystem | IoT | LoRaWAN | market adoption | networking | Omdia | systems integration