Ungated Post | 15 Apr 2016
State of the Market: Internet of Things 2016
2015 was the year that the IoT gained legitimacy; 2016 is the year it goes mainstream. Over the last year, enterprises shook off a "start small, think big" mind-set around IoT, and are now building it into their future strategies and business models.
Oxford Economics surveyed 500 early adopters of IoT across different industry sectors and carried out in-depth interviews with nine IoT pioneers to understand their experiences implementing IoT. The survey investigated progress made implementing IoT, the financial business case, along with actual and expected performance improvements. The survey also explored the constraints that are holding back these early adopters. The survey results and interviews were important research inputs to Verizon’s report. Key findings include:
- Companies across all industries now have IoT squarely on their radar.
- A growing IoT market is enabling organizations from every industry to comply with regulations, increase process efficiency, gain better customer insight, and build completely new business models.
- IoT platforms are making the development of IoT applications easier, faster, and cheaper for everyone.
- Analyzing IoT data remains a difficulty; only 8% use more than 25% of the IoT data they capture. -Security, organizational and cultural change also remain significant constraints.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
Americas
Diantha Redd
+1 (646) 503 3052
Email
Asia Pacific
Peter Suomi
+65 6850 0110
Email
EMEA
Aoife Pearson
+44 (0)203 910 8054
Email
Related Services
Post
The Economic Footprint of JLR in the UK
This report examines the economic footprint of JLR in the United Kingdom in 2024. The analysis is conducted both at the national level, as well as on the West Midlands and North West regions, where JLR’s main facilities are located.
Find Out More
Post
Airbnb’s Economic Contribution to APAC in 2024: GDP, Jobs, and Regional Impact
Airbnb's platform connects hosts across Asia Pacific (APAC) with travellers from around the world. Oxford Economics was commissioned by Airbnb to quantify its economic footprint in 10 APAC markets in 2024.
Find Out More
Post
Economic Insights: Airbnb’s Contribution Through the Lens of Oxford Economics
Oxford Economics Australia delivered a tailored economic impact assessment for Airbnb, including GDP contribution modelling, job creation analytics, guest‑spend segmentation, and regional tourism dispersion insights to underpin Airbnb’s stakeholder communications and strategic growth initiatives.
Find Out More