Microsoft has released the findings of its IoT Signals research report, which surveyed over 3,000 IoT decision-makers on topics including adoption rates, relevant trends in technology, challenges and benefits that come with IoT. The report made it clear that IoT will continue to increase in popularity, with 85 per cent of respondents currently adopting IoT, and three-fourths of these have IoT projects in planning.

IoT adopters believe 30 per cent of their company’s revenue two years from now – including cost savings and efficiencies – will come from IoT. 88 per cent of adopters think IoT is “critical to business success”. Almost all (97 per cent) of adopters will continue to use IoT, despite having security and privacy concerns.

“IoT is transforming businesses in every industry and is powering breakthrough innovations,” said Sam George, head of Azure IoT. “Our research shows that unlocking IoT’s full potential requires the industry to address key challenges like the skills shortage, security concerns and solution complexity. Microsoft is leading the way on simplifying and securing IoT so that every business on the planet can benefit.”

“According to IDC’s Worldwide Global DataSphere IoT Devices and Data Forecast, IDC expects there to be 41.6bn connected IoT devices by 2025 — growing at a rate of 8.9 per cent over the forecast period,” said Carrie MacGillivray, group vice president, IoT, 5G and Mobility at IDC. “As the market continues to mature, IoT increasingly becomes the fabric enabling the exchange of information from ‘things’ to people and processes. Data becomes the common denominator — as it is captured, processed, and used from the nearest and farthest edges of the network to create value for industries, governments, and individuals’ lives.”