The Current State of the Internet of Things-Continuity and Change, Commonalities, and Fragmentation

Highlights from the Annual Frost & Sullivan Global IoT Survey

In this third iteration of the annual Frost & Sullivan IoT user survey, we start to gain a longitudinal understanding of the industry's continuity and change. A total of 688 respondents participated in the survey conducted in Q3 2023, with IT and business decision-makers responsible for IoT decisions representing a range of industries, organization sizes, and regions.

Compared to the previous year, the 2023 survey's results reveal both patterns of change and continuity. Furthermore, the results indicate regional as well as industry differences in IoT adoption.

Some of the changes perceived in 2023 take place in the status of IoT deployment in organizations and the growth of C-Suite influence in decision-making. On the other hand, organizations claim to have the same business objectives and challenges. For example, security and data protection remains the top challenge for implementation.

Finally, the survey indicated regional and industry differences in 2023 in terms of benefits perceived, wireless connectivity used in IoT solutions, data volume, IoT applications, and economic scenarios for 2024.

Key Features

The results provide a glimpse of enterprise decision processes, including:

• Decision-makers that are driving the adoption of digital solutions;
• How they rank challenges and priorities;
• What benefits are experienced by region and industry;
• What infrastructure options they are using and planning to add;
• Key IoT applications;
• The approximate ranking of spending on components;
• Growth expectations.