New report out today – “Industrial IoT in the Time of Covid-19” – finds rapid increase and high level of maturity in levels of industrial IoT in 2021 across global supply chains in agriculture, electrical utilities, mining, oil and gas, and transport and logistics.
New research by Inmarsat, the world leader in global mobile satellite communications, reveals a rapid increase in the maturity level of organisations adopting the industrial Internet of Things (IoT) since the start of the Covid-19 pandemic.
Respondents drawn from multiple industries also reported that Covid-19 has demonstrated the importance of IoT to their businesses, with many accelerating IoT deployments in response to the pandemic.
According to the research, IoT adoption has seen huge progress from 2020 to 2021. More than three quarters (77 per cent) of the organisations surveyed have now fully deployed at least one IoT project, with 41 per cent having achieved this in the twelve-month period from the second quarter of 2020. Of the remaining 23 per cent of respondents that have not yet fully deployed IoT projects, all are either currently trialling it, or plan to deploy or trial at least one IoT project in the next 18 months.
A further 84 per cent of respondents indicated they have accelerated or they intend to accelerate the adoption of IoT in response to challenges related to Covid-19. This figure includes 47 per cent who have already accelerated IoT adoption to respond to Covid-19, 24 per cent who will accelerate over the next twelve months and 14 per cent who will accelerate beyond the next 12 months. The 47 per cent who have already accelerated IoT adoption are less likely to state that Covid-19 has negatively impacted their ability to operate, than those yet to, demonstrating a link between IoT and business continuity during the pandemic. Additionally, over half (52%) of respondents indicated that business and operational challenges related to Covid-19 have underlined the importance of IoT.
Commenting on the research, Mike Carter, President of Inmarsat Enterprise said:
“The rapid increase in IoT deployments over the last few years highlights the considerable progress global industry has made to overcome some of the world’s most challenging forces.”
“It is particularly interesting, though logical, that Covid-19 has further catalysed businesses to increase their reliance on Industry 4.0 technologies, and particularly the industrial Internet of Things, in order to maintain business continuity. Those businesses implementing IoT technologies ahead of their competition and across their value chains are those who stand to win in the long-term.”
“While our findings point to IoT driving significant uplifts in efficiency, sustainability and safety across global supply chains, there are areas where organisations can make improvements to draw the optimum benefits from the technology. Connectivity, data management, skills shortages, security threats and investment levels remain challenges as the world’s production and supply chains become increasingly digitalised and intertwined.”
“Inmarsat’s global ELERA network is inspiring new possibilities and enabling organisations from all sectors to access IoT anywhere. Ideally suited to the rapidly evolving world of IoT, our industry-leading narrowband network provides global reach, extraordinary resilience, and the fastest speeds, along with the smallest, low cost terminals in their class. Organisations looking to accelerate their IoT deployments need look no further than Inmarsat and our global partner ecosystem – the widest of any satellite provider – to solve their IoT connectivity needs.”