Over three-quarters (76%) of all companies believe that taking advantage of internet-of-things (IoT) technologies will be crucial for the future success of business, according to a global Vodafone survey published this week.

The fourth annual Vodafone IoT Barometer Report was based on a survey of more than 1,000 companies in 17 countries (including Ireland), which was carried out in April and May 2016.

The report found plenty of enthusiasm among businesses for a world of driverless cars, self-stocking fridges and remote-controlled offices. Among the chief findings:

- 89% of companies investing in IoT have increased their budgets over the last 12 months;
- 76% of all companies interviewed believe that taking advantage of IoT technologies will be critical for the future success of any organisation;
- 63% of IoT adopters are seeing "significant" returns on investment, up from 59% in last year's report;
- IoT investment now accounts for 24% of the average IT budget, on a par with cloud computing or data analytics.

The report also found that IoT technologies play a key role in mainstream business activities in an increasing number of companies. Additional findings included:

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- 48% of companies interviewed are using IoT technologies to support large-scale business transformation, rising to 61% in the Asia-Pacific region;
- 52% of consumer electronics companies interviewed are using IoT technologies as the basis for a new generation of applications for connected homes;
- 46% of all companies interviewed said they intend to develop new IoT-based products and services over the next two years.

Commenting on the survey results, Erik Brenneis, Vodafone group IoT director, said: “2016 is the year the ‘internet of things’ entered the mainstream."