Within one year alone, the number of German companies implementing IoT Projects has doubled. IoT Platforms such as CENTERSIGHT from Device Insight also continue to represent important technology, the IoT study 2019 by IDG has shown.
The Internet of Things is moving the German economy. Within one year, the number of companies already implementing IoT Projects more than doubled – from 21 to 44 percent. This is just one finding of the new IoT study for 2019 from Computerwoche and IDG Research Services, supported by Device Insight. Platforms, such as CENTERSIGHT from the leading Munich-based provider, continue to be seen as the most important IoT technology, followed by big data and analytics, cloud computing and mobile network technologies. While security is losing significance, artificial intelligence (AI) is gaining in importance.
According to the study, this development continues to be accelerated by corporations and large businesses boasting over 1,000 employees, of which 56 percent have already implemented IoT projects. Small and mid-sized companies remain close behind.
Whereas last year, 47 percent of business had already assigned IoT a “high” or “very high” relevance, this year’s results have grown moderately to 51 percent, which the authors of the new study have attributed to increased maturity. As it would appear in Gartner’s Hype Cycle, exaggerated expectations have given way to more realistic thinking. At the same time however, 41 percent of companies with an IT budget of less than ten million Euros assume that IoT will be “important” or “very important” for them within the next three years. For companies with IT budgets of over ten million euros, this figure increases significantly to 61 percent.
Responsibilities are concentrating more and more on the CIO and IT department (taken together). The number of companies confirming this position has grown from almost 40 to 69 percent within one year. The new study for 2019 shows that in less than a quarter of companies, it is the managing director that “has his say”.
While in last year’s study for 2018 the majority of those asked saw IoT’s chances in the development of new services, this aspect has reached third-last place in this year’s study, reaching a mere 18 percent. With 30.4 percent, lowering costs is the greatest driving force, followed by development of new customer potential (28.4 percent), increasing employee productivity (27.6 percent) and customer satisfaction (26.8 percent).
Competitive advantage and levels of automation remain in high demand. As a result, companies are prepared to invest more in IoT, with AI among the winners at 30 percent. Cloud services, such as those offered by Device Insight, are still at the top as well as data security, ironically the subject area with less IoT importance than in previous years. This also suggests increased levels of maturity.
The greatest stumbling block to development remains the continued lack of experts, a view expressed by almost 31 percent of those companies asked. Staff concerns came in second place at 24.5 percent, third place was non-optimized business processes and in fourth and fifth place, lack of skills and lack of cooperation between departments.
Here, IoT has already reached a high level of maturity and has become indispensable in businesses. Once again, IoT platforms are perceived as a key Internet of Things technology for 55 percent of companies. One third of German companies already implement an IoT platform – an increase of ten percent compared with last year.
This shows that IoT has found its way into German companies and that IoT platforms, such as CENTERSIGHT by Device Insight, have become essential tools. Device Insight’s key aspects can be found in the areas of Industry 4.0 (key word IIoT for Industrial Internet of Things) and automation, telematics and fleet management as well as remote services, e.g. for coffee vending machines or Kärcher cleaning systems. Depending on customer requirements, technologies such as data analysis, machine learning and AI may also be employed. Since joining Device Insight in 2017, the strategic partnership with Augsburg-based robotics manufacturer KUKA is already bearing fruit and is being expanded further.
Learn about the importance of IoT in today’s mid-sized companies and where it’s worth investing in IoT projects.