Inmarsat Research reveals that poor or unreliable connectivity is a key barrier limiting the success of IoT projects for most organisations.
According to the research report ‘Industrial IoT in the Time of Covid-19’ 75 percent of businesses experience connectivity challenges when trialling IoT projects and don’t feel that public terrestrial networks are completely suitable for their IoT needs.
illustration: elenabsl/adobe stock
Research by Inmarsat reveals that investment in the Internet of Things (IoT) is set to overtake cloud computing, next-generation security, big data analytics and other digital transformation technologies soon.
Respondents drawn from multiple industries reported plans to invest the greatest proportion of their IT budget on IoT projects over the next three years.
The report found IoT has reached a high level of maturity across most organisations, with businesses across all industry sectors now planning to spend an average of $2.8 million on their IoT investments through to 2024. While IoT accounted for an average of seven per cent of an organisation’s IT budget between 2017 and 2020, businesses are planning to spend 10 percent of their IT budgets on IoT projects over the next three years.
Planned investments in IoT are notably higher than those earmarked for other Industry 4.0 technologies, including cloud computing (9.0 percent), next-generation security (7.5 percent), big data analytics (7.3 percent), robotics (5.3 percent), machine learning (4.8 percent) and virtual reality (4.3 percent).
IoT as a service outfit, Hiber, has teamed up with Inmarsat to provide it with a satellite connectivity backbone on which it will continue to build Hiberband, its low-cost, low-power network for Internet of Things (IoT) products.
The agreement pairs Inmarsat’s recently unveiled ELERA network, the global satellite network for IoT, with Hiber’s IoT-as-a-service ecosystem to provide low power IoT solutions and services to transport, logistics, agriculture, mining and other industries worldwide.
Hiber will continue using its own proprietary protocols that allow for ultra-low power and low-data consumption levels to connect to Inmarsat’s ELERA network and power its IoT solutions.
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