Asia-Pacific IoT Adopters Reap Significant Business Gains

Frost & Sullivan�s recent survey dispels IoT myths and shows tangible business outcomes

 

SINGAPORE - Media
OutReach - 16 January 2019 – Decision makers must come to terms that
the Internet of Things (IoT) is no longer a futuristic concept. Many
enterprises are already progressing beyond the conceptualisation stage and
embarking on their IoT deployment. However, it is important to understand that
as with all new digital initiatives, IoT implementation is a journey.

 

Frost & Sullivan’s latest survey comprised 300 respondents in Australia,
Hong Kong, and Singapore, and sought to understand the IoT maturity of
enterprises and the impact of IoT adoption on business performance. The study
also looked at respondents’ attitudes and perceptions towards IoT and other
enabling technologies, and how IoT is being implemented in their organisations.

 

“Close to 40% of enterprises in Australia, Hong Kong, and Singapore
have already embarked on their IoT journey and realised significant gains in
their business performance,” said Spike Choo, Director of Cognitive Industries
(IoT and AI), Frost & Sullivan. “Our study shows that enterprises surveyed
have experienced improvement in overall business metrics of 12.1% after implementing
IoT initiatives.”

 

As a result of the study, the Internet of Things Actualisation
Quotient (IoT AQ) was created to quantify enterprises’ digital maturity in
their IoT journey. The IoT AQ is a framework that maps an enterprise’s IoT
journey and the business value it creates. The quotient measures IoT maturity
and links this maturity to business outcomes.

 

“The end-user study conducted found that enterprises at different
stages of their IoT actualisation journey have realised increasing business
benefits as they mature. Across all business outcomes covered in the study, IoT-mature
enterprises realised more gains, seeing an average improvement of 16.8% in
their business performance,” said Spike.

 

Frost & Sullivan’s new white paper, in collaboration with
Singtel, The Internet of Things
Actualisation Quotient: An Asia-Pacific Perspective provides insights into
where most Asia-Pacific enterprises are in their IoT journey by leveraging the
IoT Actualisation Quotient (AQ) framework and the associated business benefits
they reap at each stage of this journey. The whitepaper and the IoT AQ will
also guide enterprises in planning their IoT roadmap.

 

To download the complimentary white paper,
please visit: https://www.enterprise.singtel.com/webApp/iot-aq-whitepaper

Where are you on your IoT journey? Take the test:

https://www.enterprise.singtel.com/webApp/iot-aq#c2

 

About Frost & Sullivan

 

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