Connected device adoption rate in Asia reaches 200% over 5 years
77% of respondents, "IoT is an indispensable element of business"

Vodafone has released the '2017 Vodafone IoT Status Indicators,' a global research report on investment and innovation in the Internet of Things (IoT) market.

The report contains survey results indicating that Asian companies are leading the world in the adoption of the Internet of Things (IoT).

The number of Asian companies adopting connected devices grew rapidly by about 200% from 2013 to 2017, recording 36% in 2017.

In addition to the overwhelming IoT adoption rate, this report cited the improving return on investment (ROI) of companies that have implemented large-scale IoT as the most important factor. Furthermore, the report stated that companies can enjoy a wider range of benefits through IoT adoption, such as enhanced business insights, cost reduction, and improved employee productivity.

In addition, 42% of companies in the Asian region answered that they are achieving better brand differentiation through IoT. In addition, the biggest benefit of IoT cited by companies in the Asian region is improved market competitiveness, with 53% responding that they experienced enhanced competitiveness, a figure significantly higher than in Europe (33%) or the Americas (35%).



In the 'Future Outlook' section of the report, companies expressed a positive view on IoT security, considering it a 'key factor that helps businesses move forward' rather than perceiving IoT security issues as a limiting factor in adoption.

In particular, 86% of companies in Asia view security as a driving force for their business, indicating a more positive outlook on the sector compared to the global region (79%). Furthermore, 83% of Asian companies responded that they possess the appropriate technology to manage IoT security. This figure is significantly higher than the 70% of European companies and 65% of American companies that reported having IoT security management technology.

According to this report, the demand for connectivity is increasing as the scale of IoT projects grows. Companies intend to use a variety of technologies, ranging from wired to low-power wide-area networks (LP-WAN), depending on the application.

In large-scale projects, four connectivity options are commonly used, including the most popular mobile and Wi-Fi. Interest in new technologies such as Narrowband Internet of Things (NB-IoT) is increasing, and it has been found that 28% of companies are currently considering adopting NB-IoT and LP-WAN for new IoT projects.

Justin Nelson, Head of IoT for Vodafone Asia Pacific, said, "Now is the decisive moment when the true nature of IoT is being revealed." "Companies in the Asian region view IoT as a core component of current and future business, and are gaining confidence in securing a competitive advantage," he said.

Lee Sang-heon, Country Manager of Vodafone IoT Korea, stated, "The war among nations surrounding the IoT industry is unfolding fiercely, and many companies worldwide utilize IoT in diverse ways and for various reasons." He added, "I hope that Korean companies will also regard IoT as an essential element for future success and secure a leading position in the global market through more proactive determination and investment."