Can Profits Increase 10% With IoT Technology?

Can Profits Increase 10% With IoT Technology?

The number of overall Internet of Things (IoT) connections will more than quadruple between 2014 and 2020, according to a Verizon Enterprise Solutions report released earlier this year. “There are already more than a billion connected devices and machines in use today. So the opportunity for IoT-enabled transformation has grown massively in the last couple of years, and continues to do so,” the report states. “Today, Verizon manages more than 15 million IoT-enabled connections for a wide range of industries.”

>> By 2025, best-in-class organizations that extensively use IoT technologies in their products and operations will be up to 10 percent more profitable than organizations that don’t take advantage of IoT technologies.

>> IoT offers organizations the opportunity to transform how they operate and gives both new entrants and established players the ability to innovate and disrupt.

>> The number of installed machine-to-machine connections continues to grow. In 2014, Verizon saw a 45 percent year-over-year revenue growth in its IoT business, with 4GLTE activations growing by 135 percent.

>> Based on Verizon’s data and the opinions of its experts, the company puts the number of enterprises that have adopted IoT extensively at just 10 percent.

“Adoption is growing rapidly, but IoT isn’t yet widespread. If you don’t have an IoT strategy, you should,” the report concludes.

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