Spending decisions on IoT and edge are increasingly being made at the executive level due to a growing perception of the technologies as being strategically vital. Decisions are now being made at the executive level 35 percent of the time, almost double the 18 percent in the 2019 survey.
Investments in both technologies continue upwards at a significant trajectory. 30 percent of the respondents expect to spend $100K-$1M (a 2x increase over 2019) while 16 percent anticipate a spend upwards of $1M (a 25% increase over 2019).
Open-source IoT and edge computing platforms look set to benefit the most from this increasing enterprise investment. 74 percent of organisations now factor open-source into their deployment plans, an increase of 14 percent over 2019.
The respondents note the main attraction to open-source is the ability to customise or influence code in projects (29%), followed by cost advantages (18%) and flexibility (14%).
It is a beautiful experience to see the market maturing and expanding like this. We have always had huge faith in IoT and its position in the modern society, but to see this amazing increase in interest over such a short time says a lot about what is to come.
That enterprise corporations start to see the value of IoT on an excecutive level and that they are so informed that they take open-source technology into such a big consideration is what really will solifidy IoT as a staple of modern businesses and cities. As we see it, open IoT technology is the only way to go if IoT is to benefit society at large, enabling positive sustainable changes while protecting users and their data.
