CARLSBAD., Calif., Nov., 12, 2024 – Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today shared its ‘State of Industrial IoT in 2024’ report, which finds 85% of businesses say they have struggled to develop IoT because of connectivity issues in the areas they want to deploy.
Despite a range of challenges with deployment, the report shows IoT has now become a keystone technology across industries. Close to 90% of companies surveyed either have a formal IoT strategy or are in the process of developing one, with a further 9% planning to develop a plan within the next year.
Industrial Internet of Things (IIoT) solutions utilize a range of connected devices which can help companies operate more safely, efficiently, or sustainably. Examples include automated water monitoring technology for agriculture, remote control solutions for utilities infrastructure, and environmental monitoring tools for mining and energy.
The report uses insights from hundreds of business leaders from around the world across five major industries: agriculture, energy, mining, transport and utilities. Participants were asked about their IoT solutions, priorities, challenges, and progress so far. Overall, respondents believe budgets will increase in future, with 70% feeling confident they will have more to spend on IoT in coming years.
Nearly a third (30%) of respondents report the largest challenge once solutions are deployed is a lack of consistent and reliable connectivity. Following the previous report in 2021, satellite connectivity has become the most popular connectivity source for enabling IoT, at 41%, with others opting on a range of solutions like Wi-Fi (39%), cellular (36%) and Radio (34%). With businesses still reporting connectivity gaps, the findings could suggest there is room for growth in highly reliable satellite solutions.
Andy Kessler, Vice President, Viasat Enterprise, said: “IoT has proven its value for businesses navigating an unpredictable environment, helping them become more agile and efficient. But businesses still face connectivity issues, which is why they are looking for reliable, consistent satellite solutions to drive the roll-out. Looking forward, reducing the complexity of converging satellite and terrestrial is going to be key to maximizing the full potential for IoT.”
About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people’s lives anywhere they are—on the ground, in the air or at sea, while building a sustainable future in space. In May 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at www.viasat.com, the Viasat News Room or follow us on Facebook, Instagram, LinkedIn, X or YouTube.
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