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IoT Investments: More than Half of Businesses to Spend More on IoT
2021 is shaping up to be a big year for IoT. Nearly half of businesses are forecast to increase their investment in IoT, according to Gartner.
IoT sensors are being deployed to gather information to monitor, prevent and enhance operations. IoT is being used, for example, to predictively monitor commercial and industrial assets like elevators and turbines and to optimize processes to increase manufacturing yield.
Erik Brenneis, IoT director at Vodafone Business, said that “IoT technology has made a huge difference during the Covid-19 crisis, while more broadly businesses are really starting to see its benefits. Our recent IoT spotlight report found that 87% of organizations see IoT as vital for future success, and 77% of adopters increased the pace of IoT projects during the pandemic. It is no longer just about providing cost savings, it is changing the way that businesses think and operate and providing an opportunity to re-design operations and future-proof business models. ”
