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The Internet of Things Business Index

A Quiet Revolution Gathers Pace – Report from The Economist Intelligence Unit

The Internet of Things (IoT) is an idea whose time has finally come. Falling technology costs, developments in complementary fields like mobile and cloud, together with support from governments have all contributed to the dawning of an IoT “quiet revolution”. Now, after more than a decade of slow progress, the business community is beginning to look seriously at the IoT—to the extent that a mere 6% of business leaders believe that the idea of IoT is simply hype, according to a global survey conducted by The Economist Intelligence Unit.

The IoT business index, which is featured in this report, has been specifically created to measure the level of IoT uptake by businesses globally, regionally and by industry. These initial findings will form a benchmark to be tracked over time. At present, businesses worldwide are mainly in the research stage (at point 4 on a scale of 1 to 10), and they are slightly more likely to be using the IoT for internal operations and processes than in external products or services. By region, European businesses are fractionally out in front. Meanwhile, manufacturing leads the way among industries, with financial services bringing up the rear.

Key findings from the research include the following:

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