86% of Enterprises Increasing IoT Spending In 2019
- Enterprises increased their investments in IoT by 4% in 2018 over 2017, spending an average of $4.6M this year.
- 38% of enterprises have company-wide IoT deployments in production today.
- 84% of enterprises expect to complete their IoT implementations within two years.
- 82% of enterprises share information from their IoT solutions with employees more than once a day; 67% are sharing data in real-time or near real-time.
These and many other fascinating insights are from Zebra Technologies’ second annual Intelligent Enterprise Index (PDF, 25 pp., no opt-in). The index is based on the list of criteria created during the 2016 Strategic Innovation Symposium: The Intelligent Enterprise hosted by the Technology and Entrepreneurship Center at Harvard (TECH) in 2016. An Intelligent Enterprise is one that leverages ties between the physical and digital worlds to enhance visibility and mobilize actionable insights that create better customer experiences, drive operational efficiencies or enable new business models, “ according to Tom Bianculli, Vice President, Technology, Zebra Technologies.
The metrics comprising the index are designed to interpret where companies are on their journeys to becoming Intelligent Enterprises. The following are the 11 metrics that are combined to create the Index: IoT Vision, Business Engagement, Technology Solution Partner, Adoption Plan, Change Management Plan, Point of use Application, Security & Standards, Lifetime Plan, Architecture/Infrastructure, Data Plan and Intelligent Analysis. An online survey of 918 IT decision makers from global enterprises competing in healthcare, manufacturing, retail and transportation and logistics industries was completed in August 2018. IT decision makers from nine countries were interviewed, including the U.S., U.K./Great Britain, France, Germany, Mexico, Brazil, China, India, and Australia/New Zealand. Please see pages 24 and 25 for additional details regarding the methodology.
Key insights gained from the Intelligent Enterprise Index include the following:
- 86% of enterprises expect to increase their spending on IoT in 2019 and beyond. Enterprises increased their investments in IoT by 4% in 2018 over 2017, spending an average of $4.6M this year. Nearly half of enterprises globally (49%) interviewed are aggressively pursuing IoT investments with the goal of digitally transforming their business models this decade. 38% of enterprises have company-wide IoT deployments today, and 55% have an IoT vision and are currently executing their IoT plans.
- 49% of enterprises are on the path to becoming an Intelligent Enterprise, scoring between 50 – 75 points on the index. The percent of enterprises scoring 75 or higher on the Intelligent Enterprise Index gained the greatest of all categories in the last 12 months, increasing from 5% to 11% of all respondents. The majority of enterprises are improving how well they scale the integration of their physical and digital worlds to enhance visibility and mobilize actionable insights. The more real-time the integration unifying the physical and digital worlds of their business models, the better the customer experiences and operational efficiencies attained.