Strategy analysis: US companies show resilience of IoT investment despite pandemic

Strategy analysis: US companies show resilience of IoT investment despite pandemic

Challenges Remain: Security, Managing large deployments, In-house Skills and Partnerships. 5G and Wi-Fi6 will see Major Growth in IoT, according to US Businesses.
According to Andrew Brown, Executive Director of Enterprise and IoT Research at Strategy Analytics and author of the report, “The US has weathered the pandemic storm as effectively as any major market, with higher average spending on IoT than a number of other major markets. Of course, business needs swung back towards short term planning and operational spending, with delays on strategic IoT planning as a direct result of the pandemic, but we see serious investment in 5G, which will have a massive impact on IoT environments in the US in the next 12 months and will be by far the most prominent technology added.”

US Short Term Operational Spending has increased ahead of strategic spending. More Spending is happening outside central IT Budget. 16% of ITDMs (IT Decision Makers) in the US will spend over $1M on IoT projects over the next year, rising to just under a quarter of ITDMs in a 1–2-year timeframe.

Need for Asset Visibility sees deployments scaling, showing major growth in 2H 2021 and 2022. IoT spend as a portion of IT Spend was higher on average among US companies in 2020.

About Strategy Analytics

Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.

For more information, click here for the report: IoT Deployment and Adoption Trends 2021: United States

Strategy Analytics interviewed more than 300 IT decision makers (ITDM) across 9 vertical markets across several markets, including the US. The survey identified trends, and the future direction enterprises plan to take, regarding their IoT strategy, deployments and investments.

David Kerr, Senior VP, Global Wireless Practice at Strategy Analytics, added, “Security remains the primary barrier to deploying IoT, while unpredictable costs and the challenge of managing IoT networks and devices (as deployments begin to scale) are concerns among US companies. Having the right skill sets that are needed to deploy IoT effectively is vital. US companies struggle with having the right in-house resources and have an acute need for partners who have the knowledge and experience to make a deployment effective and successful.”

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