The IoT Business Index 2020 by The Economist Intelligence Unit (EIU) is based on a global and cross-industry executive survey and is now in its third edition, providing a rare longitudinal measure of IoT implementation. This edition shows that between 2017 and 2020, a step change in IoT adoption took place.

This report examines the results of the IoT Business Index survey and draws on in-depth interviews with executives who have led or advised on IoT initiatives within companies or founded IoT-based businesses. The key findings of the study include;

• Since 2017, both internal and external-facing IoT adoption have advanced substantially
• This progress reflects increased investment
• A “path to business value” for the IoT has emerged
• The next frontier of progress will be to use IoT data strategically
• Artificial intelligence (AI) is viewed as vital to realizing the value of IoT data
• Security concerns still hamper IoT adoption