Omdia: Enterprises turning to 5G for their IoT needs

LONDON – Enterprises are not only increasing their IoT spending and their deployment of devices but are doing so because IoT projects are meeting or exceeding return on investment (ROI) expectations according to the latest Omdia Internet of Things (IoT) Enterprise Survey. Omdia surveyed approximately 500 enterprises across countries that are deploying or are in the process of rolling out IoT solutions and found that over 90% of enterprises said their IoT projects have met or exceeded expectations.

Omdia's survey results are positive for players across the IoT value chain. Communications service providers will likely see growth in high-bandwidth, high-value connections as 66% of enterprises are using or plan to use 5G connections while 53% of enterprises are using or plan on deploying new connections using LTE. The responses were similarly encouraging for growth in low-bandwidth connectivity such as NB-IoT and LoRaWAN.

In spite of the current economic climate and uncertainty around inflation, Omdia believes that enterprises will increasingly look to IoT solutions to address emerging enterprise needs including managing their supply chain or meeting environmental, social, and corporate governance goals (ESGs).

Read the full press release here.

Omdia