September 24, 2017

Verizon’s 2017 State of the Market: IoT Report

In what seems like just a few years, IoT has moved from being a somewhat futuristic concept to a very real force impacting just about every industry. From high tech to healthcare to agriculture, the Internet of Things has allowed us to dive deeper into all sectors and derive real-time insights that have the potential to change the way business is done as we know it.

Verizon is particularly interested in IoT’s influence on the enterprise and with 73% of executives either researching or currently deploying IoT, we discovered that IoT is at the core of digital transformation in our latest "State of the Market: Internet of Things 2017" Report. The research reveals which industries are making the largest IoT investments, the fastest areas of spending growth, the benefits of IoT in B2B industries, and key concerns executives have voiced while implementing this new technology.

With an estimated 8.4 billion connected "things" in use in 2017, up 31% from 2016, the report finds that B2B uses generate most of the potential value enabled by IoT which we believe to be just the tip of the iceberg in terms of driving economic value across the board.

Key takeaways from our 2017 State of the Market: IoT Report :

  • IoT is at the core of digital transformation for business. It’s changing the playing field for business in every industry—helping to increase operational efficiency and fuel new growth.

  • Organizations have so far focused on simple use cases to track data and send status alerts. But, in 2017, IoT has become enterprise-grade.

  • IoT platforms are providing a single environment for developing and managing applications. New low-power networks are enabling organizations to deploy IoT quicker—helping to lower costs.

To learn more, please read our press release on the findings here or download the full report here.

Tags: Internet of Things , IoT , Verizon , State of the Market