Large-scale IoT use doubles, generates revenue for companies

Over a half of worldwide Internet of Things (IoT) adopters say they’re making money out of the technology, according to a new report from Vodafone. Hiked revenue and a burgeoning return on investment (ROI) is becoming widespread, the telecommunications company says.

In Vodafone’s fifth annual IoT report, the company says the share of companies with over 50,000 devices has doubled in the past year and that 51 percent of adopters are experiencing “increasing revenues and [IoT is] opening up new revenue streams.”

In the Americas, that jumps to a whopping 64 percent that are seeing significant action.

Part of the reason for this growth is that a large proportion of enterprises (66 percent) say digital transformation depends on IoT, Vodafone’s report says. The enterprises are thus buying into it.

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