UK businesses believe IoT technology is vital for success

There is a new report from Vodafone with a clear conclusion: more than half of UK business owners (58%) believe that IoT plays a vital role in achieving success in business.

To come to this number, more than 2000 business owners from the UK were surveyed, ranging from large enterprises to sole traders. It was revealed that no matter the size of the business, IoT is a vital part of success.

The number of employees does seem to have a slight effect on the number, however. When it comes to businesses with up to 49 employees, 41% of business owners believe that IoT plays a vital role, but when it comes to large enterprises with 2500 employees and more, the numbers were a bit higher (67%).

Vodafone determined that 64% of respondents share the opinion that IoT will bring their business operations to a new level, and 62% believe that the technology is beneficial no matter what type of business you may be running.

A total of 31% of business owners are planning to invest in IoT technology in the next two years. On the flipside, 41% of business owners are concerned that IoT technology is too complex for their business.

Anne Sheehan, Vodafone UK’s enterprise director, is convinced that IoT can drive innovation and facilitate new business models. She believes that all organisations stand to gain something from it and that the opportunity to jump on the IoT train is now.