Only 12% of Russian Companies Intend to Cut Costs on IoT, Research Shows

Despite the global economic crisis caused by the COVID-19 pandemic, only 12% of Russian companies using IoT technologies intend to reduce their IoT costs. Such conclusions were made by MegaFon in the study “IoT index in Russia”, which was conducted jointly with the Kantar marketing agency, ICT Moscow writes.

The study involved 780 large, medium and small businesses from different industries. According to the report, organisations using IoT solutions most often cite the benefits obtained as cost reduction (41%), efficient data collection (41%) and workforce optimisation (40%).

Andrey Kolesnikov, chairman of the Association of the Internet of Things (AIV), believes that only capital-intensive companies have decided to cut costs on IoT. According to him, we can talk about systemic projects requiring serious capital investments. The growth of the Russian IoT market in the future 4-5 years will be in the range of 6-9% per year, the expert predicts.