The IDC report, 2019/2020 Global IoT Decision Maker Survey: Australia and New Zealand Insights, revealed that 44% of Australian enterprises have already implemented IoT. The most common driver to invest in IoT is to improve productivity both internally and for customers.
"Instead of looking to differentiate products or reach new customer segments, Australian enterprises are most often looking to improve the efficiency of their workers", said Liam Landon, associate market analyst at IDC.
Australian organisations most frequently use productivity gains as a Key Performance Indicator (KPI) to assess the success of IoT.
“Customers want to be able to quantify the benefits they receive from IoT," says Landon. "Vendors should be able to demonstrate how IoT and their data analytics solution can improve a customer's efficiency and productivity, ideally with use cases."
IDC research shows that customers aren't interested in deploying IoT technology solutions for the sake of it. Instead, they are looking for solutions to specific business problems. In this case, how to improve productivity and efficiency.
Landon suggested that vendors with use cases and experience in verticals should flaunt their use cases to potential customers and how they can be applied specifically.
"Our research shows Australian businesses are looking for vendors with a deep understanding of their vertical, to enable solutions to business problems within specific industries. IoT vendors that can combine technical-know-how with industry expertise have the advantage," he concluded.
IDC noted that Australian organisations are also looking to see how IoT can improve productivity for their customers.