Internet of Things innovation has now gone mainstream, with New Zealand expected to become the region’s third most mature market in terms of IoT units per capita by 2020.
Highlighting the agricultural sector as a key growth driver, the latest IoT Barometer Report from Vodafone suggests that 89 percent of companies investing in IoT have increased budgets over the last 12 months.
According to the telco giant, IoT investment now accounts for 24 percent of the average IT budget, on par with cloud computing or data analytics, with 46 percent of businesses intending to develop new IoT-based products and services over the next two years.
Locally speaking, Vodafone New Zealand IoT Manager Scott Pollard says kiwi companies investing in IoT innovation are facing big global market opportunities.
“Three-quarters of the companies surveyed in the 2016 IoT Barometer report now recognise IoT is a new industrial revolution that will change how people work and live forever,” he says.
“A further 63 percent of IoT adopters surveyed are seeing significant returns on investment. They are also spending 24 percent of their entire IT budget on IoT - that’s on a par with mobile, cloud and analytics.”
Vodafone’s report supports IDC’s report that predicts there will be approximately 30 billion connected things globally by 2020 - a $3 trillion global market opportunity.
Backing up the findings, Blackhawk Technology Executive Chairman, Keith Oliver, believes international opportunities are increasing for kiwi technology companies investing in IoT innovation.
As a Kiwi company, Blackhawk Tracking tracks all-terrain vehicles and off highway equipment - data from which is used to assist driver mentoring, vehicle use, and security.
Should a driver flip in a remote location, an SOS is automatically sent over the cellular network to get help to the driver, pinpointing their location to assist emergency services and search and rescue.
“We have fielded interest from a range of overseas businesses including major ski resorts in North America and value-add-resellers who are looking to provide the service to their customers under their own brand,” Oliver adds.
“Because our system incorporates Vodafone’s global IoT SIM at manufacture, we have been able to progress international market opportunities rapidly because our technology platform is compatible with overseas cellular networks.
Pollard says Vodafone has “strong heritage” in the IoT space and will continue to invest in its network to support the expected explosion in IoT applications over the next five years and beyond in New Zealand.
“We look forward to collaborating with more companies like Blackhawk to support them to think big and help their companies succeed at both the local and global level,” he adds.