
IoT Usage is Booming in APAC, According to Forrester Research
CIO Review APAC | Monday, November 21, 2022

Research from Forrester has found that the APAC market for IoT and IoT-enabled digital transformation has grown significantly over the last five years.
FREMONT, CA:According to Forrester Research, the APAC market for IoT and IoT-enabled digital transformation has grown dramatically over the past five years. This is caused by the advent and development of specialised IoT solutions, cloud-based IoT platforms, connection technologies like 5G, and other IoT consulting and service provider capabilities and offerings.
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The study found that in 2022, about half of APAC companies using IoT solutions were sure that IoT projects would considerably increase operational efficiency and customer experience. They are also investing more money in IoT overall. High-tech manufacturing and telecom were found to have the highest adoption and investment rates, whereas general manufacturing and pharma are broadly in line with APAC standards. Curiously, banking and insurance have frequently lagged.
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In APAC, production installations were determined to be the main emphasis of IoT engagements. Just 25 per cent of engagements in 2017 involved production deployments, most of which were proofs of concept or pilots. However, in 2021, 61 per cent of engagements were production deployments, which according to Forrester, is a definite sign that APAC companies are growing more optimistic about the ability of IoT projects to produce economic value.
IoT solutions were viewed as business enhancers by the majority of APAC companies. Two-thirds of telecom decision-makers in Australia, China, and India claimed their company was using IoT solutions, with half actively implementing or extending existing ones. The plans of an additional 24 per cent of respondents stated they would aim to embrace IoT solutions in the next 12 months, further demonstrating the growth of IoT solutions.
Companies in APAC are rapidly increasing all aspects of their IoT spending. Businesses in APAC are investing more in IoT solutions, which is consistent with the region's high adoption rates overall. In Australia, China, and India, 71 per cent of telecom decision-makers at businesses expect their company's IoT spending to expand moderately (one per cent to ten per cent); another ten per cent expect it to increase significantly (more than 10 per cent).
Security is another issue that is widely worried about, and many APAC organisations are putting a lot of emphasis on it in their IoT implementations. Enterprise telecom decision-makers in Australia, China, and India stated that security (41 per cent) and privacy (27 per cent) are their company's top two concerns when using IoT technologies.
According to Forrester, one of the top five IoT maintenance issues (31 per cent) is related to worries about the expansion and complexity of customer support requests (28 per cent).
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