Half of UK Businesses See IoT As Vital For Success – Vodafone Study

More than half (58%) of UK business leaders believe it is essential to embrace Internet of Things (IoT) technology to be successful, according to the new ‘Digital, Ready?’ report from Vodafone. The report questioned 2,000 business leaders from companies of various sizes.

For small businesses up to 40 employees, 41 percent believe IoT is vital for success; rising to 67 percent for large enterprises. Almost two thirds (64%) of respondents believe IoT will improve their business operations, with 62 percent believing the technology will benefit every business. Almost one third (31%) of organisations plan to adopt IoT technology in the next two years, including a quarter of small businesses (up to 49 workers), 39 percent of businesses with 50-250 workers and 30 percent of large enterprises.

The report explores the digital journey being undertaken by UK organisations, with 79 percent of businesses seeing digital transformation as a strategic priority. Key benefits include improving efficiency (57%), improving customer experience (51%) and remaining competitive (49%). Other technologies that organisations are planning to implement over the next two years include real-time analytics (36%), unified communications (34%), artificial intelligence (28%) and blockchain technology (30%). – Telecom Paper