According to the study, the APAC region is forecasted to have 38.9 billion IoT devices in circulation by 2030
The Asia Pacific (APAC) region is set to overtake the rest of the world in terms of IoT adoption, according to report from global research firm Omdia and global connectivity provider Telenor IoT.
The report found that 20% of enterprises in APAC anticipate their IoT deployments to reach beyond 500,000 devices that can be connected wirelessly to a network and used to transmit information within the next 12 months. In addition, emerging IoT adoption in the region, particularly from India, Pakistan, Bangladesh, Indonesia and Thailand, is expected to push the 14.5 billion IoT devices in circulation today to a forecasted 38.9 billion IoT devices by 2030.
“Clearly, digitalization and sustainability are moving to the core of companies’ future strategies. IoT and digitalization are no longer an option for enterprises in the region, but a necessity – as technology hardware, connectivity and software take center stage in the digital future. As no other region is poised for IoT growth on the scale of APAC, the mega-trends set out in this report can be used as a valuable guide for enterprise looking to be successful in an increasingly connected future,” said Seth Ryding, chief sales officer and head of Telenor IoT Asia.
As the APAC region moves out of the pandemic, the coming 12 months will see a huge and rapid transition as IoT deployments move from theory to practice on a scale not yet seen, according to the report.
“Whilst APAC may have been behind the curve on IoT deployment to date, huge deployment at scale is poised to take place in the coming years – not least as enterprises can take advantage of the learnings and best practice of the rest of the world’s IoT activity to date,” the report stated.
According to Omdia’s IoT Enterprise Survey Regional Report – Asia and Oceania 2022, 88% of industry respondents said that IoT was either core to their digital transformation process or is being deployed across multiple areas in their organizations.
The survey also shows a gradual increase in enterprises’ confidence in deploying IoT solutions within APAC, where 55% have deployed more than one IoT project, and 29% are deploying more than five projects.
“Many APAC projects driven by small/medium businesses, the price sensitivity and need for quick ROI is strong – especially as earlier, more foundational technology is established – meaning these owners can be harder to impress at first. With 93% of respondents saying they expect to see an ROI within the first 24 months, the pressure is on for both enterprises and their partners to deliver,” the report added.
