Two-fifths of organisations are upgrading to cellular connectivity to take advantage of technologies like IoT and AI to support sustainability goals and the rush to adopt new technology is leaving networks exposed after nearly half of firms report being the victim of a successful cyberattack over the last year.
Cradlepoint, part of Ericsson, a leader in cloud-delivered LTE and 5G wireless network and security solutions, has published the latest findings from its annual State of Connectivity in Europe report which explores the views of the UK, France, the Netherlands, Germany and Italy.
The report found that an overwhelming majority (98%) of technology decision-makers sampled expected revenue to grow if they improved their connectivity infrastructure, with over a fifth (22%) expecting it to increase by up to 29%. This equates to an expected average of 19% business revenue growth as a result of improved connectivity.
According to the survey, conducted by Censuswide, two-thirds (65%) of firms believe a portion of this revenue growth will come from increasing sustainability efforts. However, for this to come to fruition, a similar number (64%) believe they need smarter facilities to boost their operational sustainability. This is why two-fifths (42%) of organisations are prioritising upgrading their connectivity infrastructure with cellular connectivity, so they can take advantage of technologies like IoT and AI to support their sustainability goals, alongside making their businesses more resilient and efficient.
Businesses urged to secure their rapidly expanding attack surface
The push to adopt new technology, such as IoT sensors, is opening firms up to increased risk, as IT teams are losing track of what is operating on their networks. For instance, 77% of firms are both unsure of how many IoT devices are currently connected to their networks, and how many could be added in the future. Considering the fact that nearly half (45%) of businesses surveyed experienced a network security attack in the last 12 months, of which 26% were as a result of a compromised IoT device, it is clear that organisations are all too frequently leaving a gaping hole in their network infrastructure for criminals to exploit.
5G to boost UK’s position as a leading tech nation, but ongoing skills crisis is holding firms back
In the UK specifically, the survey found 5G was the technology cited most vital to the UK maintaining its position as a leading tech powerhouse, named by nearly half (47%) of those surveyed. This was ahead of other leading technologies, such as the metaverse (32%), robotics and automation (30%), 3D printing (29%) and even AI (8%).
However, firms are being held back from deploying their own cellular networks, with 32% citing a lack of digital skills and 25% believing the complexity of change was a key hurdle for their organisation. Likewise, 68% of firms believe that despite the UK Wireless Infrastructure Strategy, announced by the Government last year, overall investment in wireless connectivity is still too low, hindering further progress. In fact, 59% believe poor connectivity is preventing students from developing the skills they need to succeed in a modern world, and 62% believe it has a negative effect on public transport.
James Bristow, SVP EMEA at Cradlepoint, said: “Despite the fact the benefits of cellular networks are becoming more understood, it is clear from our research that there is still a lot of work to do if businesses are to unlock their full potential.
“Our data shows security risks, concerns over complexity and a lack of skills remain key concerns for organisations keen to explore this technology more acutely.
“However, by working with the right providers who can supply the expertise and skills that they lack, businesses can start to overcome some of these obstacles. Likewise, by identifying cellular networks that are secure, quick and easy to install, organisations can safely deploy new technology, without increasing the risk to their infrastructure. Greater collaboration between industry leaders and tech partners could fuel even more economic growth and help our nation continue to compete on the global tech stage.”