IoT Enterprise Projects Adoption Report 2024

About the report

The IoT Enterprise Project Adoption Report 2024 is part of IoT Analytics’ ongoing coverage of general IoT topics. The information presented in this report is based on an extensive survey of decision makers in manufacturing and other sectors such as energy and buildings. Its purpose is to inform other market participants about the current state of implementation of IoT initiatives in the enterprise sector and the approach they are following. Survey participants were selected randomly, and their knowledge was verified independently. To ensure complete objectivity, IoT Analytics did not alter or supplement any survey results and did not accept participants that were suggested by third parties (e.g., customers from specific vendors).

Leveraging a comprehensive survey encompassing end users of IoT solutions, this report delves into the strategic decision-making processes pertaining to IoT enterprise business adoption. It offers an in depth analysis of implemented use cases, return on investment (ROI), challenges encountered, and learnings. The report provides insights for over 40 use cases, providing a better understanding of the decisions between buying, building, or combining both approaches for IoT solutions. A deep dive of purchasing off-the-shelf solutions is also included. The data represents perspectives from over 15 countries across North America, Europe, and the Asia-Pacific region. Each participant contributed to the depth of this report by answering more than 30 targeted questions about their IoT initiatives, ensuring a robust foundation for market research in the IoT enterprise domain.

Questions answered

• How successful are enterprise IoT initiatives? Which ones are more successful?
• What is the ROI of such IoT implementations? Have they already reached break-even?
• What is the dominant approach to implement IoT initiatives? Build, buy-and-build, or buy?
• How are decisions for a specific approach made? What are the most important considerations?
• How do the three approaches vary by industry, region, use case group, and company size?
• What people and organizational challenges had to be overcome during the IoT implementation?
• How important is it to involve key organizational groups in the process of implementing the initiative?
• What are some of the key learnings that organizations have taken from implementing such initiatives?
• Which use cases are implemented with each buy vs. build approach?

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