The recently released Omdia‘s Internet of Things (IoT) Enterprise Survey found what company officials characterized as “astonishing” surge in confidence among enterprises leveraging IoT solutions.

The sixth annual survey, drawn from nearly 600 enterprises across ten countries and eight different verticals, discovered that 95 percent of respondents expect to see measurable benefits from IoT within two years of deployment. As enterprises continue to increase their investment in IoT solutions and expand their devices, IoT is becoming a cornerstone of their digital transformation strategies.

The report outlined how companies are continuing to integrate IoT into their workflows while reaping benefits from productivity gains, cost savings, and improved worker safety.

Marrying AI, IoT

John Canali, IoT principal analyst, Omdia, commented that as attention continues to shift to artificial intelligence (AI) as a step change for business intelligence, officials are witnessing many enterprises making meaningful changes through IoT deployments.

“Business of all sizes can leverage IoT deployments to make data-driven decisions that significantly improve their business outcomes,” said Canali in a press statement with the release of the survey.

Omdia officials noted while the survey demonstrates the growing opportunities for IoT vendors across the value chain, vendors and enterprises should shy away from adding unnecessary complexity in their IoT strategies.

Working in a Mature Market

With the rapid expansion of IoT technologies, communications service providers (CSPs) are urged to enhance their educational efforts to help enterprises navigate these technologies.

To that end, 56 percent of companies responding said they are now investing over $1 million on IoT in 2024, jumping from the 36 percent who were in 2023.

Andrew Brown, IoT practice lead at Omdia, said this is an indication that IoT has now reached maturity, fueled by cloud computing and hyperscale connectivity, delivering tangible benefits in shorter timeframes, commented.