One of the major reasons for this demanding hike for IoT is the decline in COVID 19 cases. The survey data reflects that the expenditure of authorities upon IoT technology and projects will increase over time. It is because the enterprises are now getting back on track with their full might.
2020 was a year full of twists for the world. And, the enterprises had IoT and digitization as prime plans for projecting a recovery from the crisis. As per the survey conducted by IoT World Today Connectivity, 59% of the respondents are anticipating an increase in the IoT budget for 2021, while only 6% anticipated a decrease.
The same survey also enlightened that around 57% of the respondents said that there would be an increase in the networking budget of 2021, while 7% said that it would decrease. Moreover, IT professionals today are also preferring 4G over 5G for IoT connectivity. The IT professionals most likely have deployed LTE/4G connectivity for supporting the IoT technologies, which accounts for 53% of the respondents over a survey. In the same survey, 42% of the respondents use Wi-Fi 5 or earlier protocols, and only 39% are preferring 5G.
Josh Builta, IoT Research Director of Omdia, says that the connectivity technology varieties are always part of IoT. There is no single technology that can be ideally considered as fit for all applications of IoT, says Builta. As per the survey records are considered, it is expected that the low-power technologies that were brought into action for a purpose will experience heavy adoption in the future, and so will 5G. But for now, 4G is preferable for IoT technologies compared to 5G.
There are different challenges that the enterprises are experiencing or are about to experience in the year 2021. With the IoT demands rising at the peak, there is a lack of proficient staff to manage the projects. Some of the enterprises are facing problems in maintaining the connectivity of such devices. Along with that, some enterprises are also concerned about the proficiency of data security with IoT technology. As per the surveys conducted so far, 33% of the respondents say that connectivity is their prime challenge, and 43% of respondents say that data security is their concern with IoT systems. There is a need for an optimized solution to overcome these challenges!
Therefore, the enterprises are taking up assistance from third-party providers to upgrade the network. It is helping enterprises take off the primary burden of security and efficiency for IoT systems. There is a very small count of organizations across the globe that have sufficient internal resources for building & developing a secure IoT system all on their own. Most of the organizations take the help of any system integrator and third-party developer to get their needs attended to. And the demand for the same is expected to rise in 2021, with a probable increase in the IoT budget.
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