Engineering 101

IoT Fortunes Rising Fast: The Economist Intelligence Unit Index 2020

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The longest-running business study into the Internet of Things shows significant IoT investment is likely to tip global deployments over into global maturity this year. Over seven years, The Economist Intelligence Unit’s (EIU) IoT Business Index survey has established itself as the most authoritative in-depth study of IoT growth.

The study, sponsored by Arm and carried out by the EIU, involved 850 large and medium-sized enterprises with combined annual revenues of more than $500bn.

The study concludes the previous crawl into Internet of things (IoT) technology has given way to rampant confidence – leading to accelerating investment, stronger returns and a faster move through early stages into extensive deployment.

Key findings include:

  • 58% of companies are now deploying IoT technologies for internal use
  • 45% of companies are using IoT as part of their external product and services strategy
  • 57% of companies say they’ve seen stronger returns on IoT investments than they expected

For more information, read the full EIU’s IoT Business Index 2020 now.

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