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

SINGAPORE - MediaOutReach - 16 January 2019 - Decision makers must come to terms thatthe Internet of Things (IoT) is no longer a futuristic concept. Manyenterprises are already progressing beyond the conceptualisation stage andembarking on their IoT deployment. However, it is important to understand thatas 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 ofenterprises and the impact of IoT adoption on business performance. The studyalso looked at respondents' attitudes and perceptions towards IoT and otherenabling technologies, and how IoT is being implemented in their organisations.

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

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

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

Frost & Sullivan's new white paper, in collaboration withSingtel, The Internet of ThingsActualisation Quotient: An Asia-Pacific Perspective provides insights intowhere most Asia-Pacific enterprises are in their IoT journey by leveraging theIoT Actualisation Quotient (AQ) framework and the associated business benefitsthey reap at each stage of this journey. The whitepaper and the IoT AQ willalso 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

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