According To New Survey From Flextronics, IoT Is Key To Growth, But Companies May Not Make It A Top Priority

January 23, 2015

DAVOS, Switzerland, Jan. 23, 2015 /PRNewswire/ -- There is a growing level of excitement about a new era of smart, connected devices and systems, but it's not necessarily a top priority for companies, according to a new survey from Flextronics.

Today, the company launched a new print and digital publication to address this evolving ecosystem, and released key findings of a survey it commissioned to measure awareness and adoption of the Internet of Things (IoT) among business leaders across a wide range of industries. While discussing a new 'era of intelligence' triggered by IoT at the World Economic Forum Annual Meeting, Flextronics unveiled initial results, including:

  • IoT adoption is growing.
    • Today, an average of 42 percent of products at the companies surveyed contain IoT embedded technology.
    • The average is expected is to grow to 50 percent in two years and 66 percent in five years.
  • IoT is a key to company growth and business leaders want their companies to invest in and prioritize IoT.
    • 86 percent believe IoT will be important for a company's success in the future.
    • Compared to other innovations in technology, nearly 9 in 10 (88 percent) consider the "Internet of Things" very or somewhat important.
  • However, companies are not highly prioritizing, preparing, or investing in R&D around IoT.
    • 44 percent report that an IoT strategy is currently a high priority for their company, but 66 percent believe it should be a high priority - a 22 percent gap.

"As we move into this era of intelligence, we believe the future it is going to be quite a bit different as we interact with our environment easier and more quickly. And putting a new kind of intuition in the things that we interact with isn't just about making the devices smarter, it is about making how we live a lot smarter," said Mike McNamara, CEO of Flextronics.

To illustrate the power of this emerging age, Flextronics also today launched INTELLIGENCE, a physical and digital publication that gives readers and viewers an early, inside look at the IoT revolution. The publication launched at the World Economic Forum Annual Meeting and is available online at www.theintelligenceofthings.com, introducing visitors to designers, engineers and manufacturers at the forefront of this new kind of collaborative innovation.

Additional findings of the IoT survey commissioned by Flextronics will be made available online (www.theintelligenceofthings.com/research) and be featured in the next edition of INTELLIGENCE.

About Flextronics

Flextronics is a leading end-to-end supply chain solutions company that delivers innovative design, engineering, manufacturing and logistics services to a range of industries and end-markets, including data networking, telecom, enterprise computing and storage, industrial, capital equipment, appliances, automation, medical, automotive, aerospace and defense, energy, mobile, computing and other electronic product categories. Flextronicsis an industry leader with $26 billion in sales, generated from helping customers design, build, ship, and service their products through an unparalleled network of facilities and innovation centers in approximately 30 countries and across four continents. Flextronics service offerings and vertically integrated component technologies optimize customer supply chains by lowering costs, reducing supply chain risk, increasing flexibility, and reducing time-to-market. For more information, visit www.flextronics.com or follow us on Twitter @Flextronics.

About the Survey

The survey was commissioned by Flextronics and conducted online by  Edelman Berland , an independent global market research firm, betweenDecember 18, 2014 and January 7, 2015. The survey included 348 Senior Business Leaders who had heard of the term "Internet of Things" and has a margin of error of +5.3%. Respondents represent a wide range of industries and products and serve as leaders at companies that are Flextronicscustomers or associates.

Renee Brotherton

Kevin Kessel

Corporate Communications

Investor Relations

1 (408) 576-7189 1

(408) 576-7985

renee.brotherton@flextronics.com

kevin.kessel@flextronics.com

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/according-to-new-survey-from-flextronics-iot-is-key-to-growth-but-companies-may-not-make-it-a-top-priority-300024799.html

SOURCE Flextronics

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