itb-nz logo
Story image

NZ IoT Alliance: Next decade worth $2.2 billion in IoT potential

30 Jun 2017

A national roll out of IoT (Internet of Things) across New Zealand’s key sectors could bring with it billions of dollars in benefits for the New Zealand economy.

This is according to a 92-page report commissioned by the New Zealand IoT Alliance, an independent member-funded group of technology firms, corporates, start-ups, universities and government agencies.

The study found that across a mere nine common IoT applications the potential net benefit over 10 years could be $2.2 billion in present value terms.

Alliance chair and NZTech chief executive Graeme Muller says despite the general agreement that IoT will be important for the New Zealand economy, there has been little research into its true potential until now.

With the research, the New Zealand IoT Alliance wanted to find out just how important IoT will be for the nation, adds Muller.

“This study was designed to provide a stocktake of the current ecosystem of IoT in New Zealand, an economic analysis of the potential impact to the economy of the deployment of IoT in various applications and identification of opportunities and risk,” comments Muller.

“The primary objective is to identify opportunities for economic growth through clever use of the Internet of Things. The report found New Zealand ranked highly as a nation in terms of IoT readiness yet a lack of understanding of the economic value appears to be holding back investment.

Muller continues, “the economic value that accelerated uptake of IoT could bring is substantial for the New Zealand economy. There are many ways to stimulate the uptake of IoT with most stemming from an increased awareness of the potential value that IoT can bring.”

Muller says New Zealand has a vibrant IoT ecosystem and some of the more significant IoT projects underway include:

  • A number of local councils are planning or deploying 'smart city' initiatives
  • Many solutions being developed for the agribusiness sector, although few have reached scaled deployment status
  • Universities undertaking IoT research within health and wellness, facility and building management, and early childhood education
  • Telecommunications companies using their cellular connectivity to deliver IoT deployments.
  • Several international technology organisations offering IoT services in New Zealand, such as example, Huawei, NEC, Cisco and IBM

The Internet of Things is a collection of interconnected things and devices that, through their connection to the internet, are able to collect and exchange data.

Muller continues, “New Zealand has world class internet connectivity with the rollouts of the government's ultra-fast broadband and rural broadband initiatives, plus cellular networks and LPWAN.”

Muller says that while all of these projects indicate an active IoT supply in New Zealand, the demand uptake is slower.

“The research found that only 14% of New Zealand enterprises have deployed an IoT solution.”

“The report makes quite a number of recommendations including one where the government should use their purchasing power to demonstrate the value IoT can offer in providing efficient and effective delivery of government services.”

“The key inhibitor for IoT uptake in New Zealand is a lack of understanding, knowledge and skill. This is not a technical issue, it is an education and awareness issue. To increase IoT uptake we need to look at issues such as reducing market fragmentation and for discussions to move away from technology to solving business problems.”

Muller concludes, “additionally, our government should ensure there are no unnecessary barriers deterring universities from undertaking research into IoT or preventing the IoT sector from accessing current research and development funding mechanisms.”

Story image
Fortinet: Security as agile as your network
Jon McGettigan, Fortinet A/NZ Regional Director, explains why your network requires agile security services to fully protect your expanding ‘core and edge’ topology.More
Download image
Why there's a huge push for NFV in today's enterprises
To help networking and IT professionals better understand the opportunities and challenges associated with deploying NFV technology, new research based on responses from more than 1,300 IT and networking professionals from around the world is now available. More
Story image
Visibility key to resilient supply chain amid COVID-19
Ideally, any party should at any time be able to answer the question: ‘Where is my stuff, and when will it arrive?’More
Story image
B2B buyers more likely to buy from vendors with digital purchasing channels - report
Procurement and purchasing leaders have steadily been shifting purchasing from traditional reliance on sales reps to self-serve ordering through digital channels, and COVID-19 has dramatically accelerated this shift..More
Link image
True SASE. True zero trust. True cloud.
Secure Access Service Edge (SASE) is the new way of unifying security. Use the combined power of threat protection and data loss prevention to protect data, users, and systems safe when people are now working from almost anywhere.More
Story image
Cloudflare creates Workers Unbound platform for serverless development
Cloudflare will continue to offer the original Cloudflare Workers model, now known as Cloudflare Workers Bundled. Cloudflare Workers Unbound now allows developers using the Cloudflare Workers platform to create more complex applications.More