SMBs interested in IoTs, inflation is primary concern–study

New research from Parks Associates has revealed 75% of small-to-medium businesses (SMBs) are concerned about inflation, and the majority are concerned about the resulting spike in cost of materials, insurance, healthcare, and energy. 

The new study looks into the business challenges and outlook for SMBs as well as opportunities for connectivity, IoT devices and services in transforming their operations. The study found an increased interest in tools to monitor staff, inventory, and buildings as well as a need for access control and energy management. IoT devices and services could help control costs as well as in addressing the impacts of labor shortages. 

"ISPs and other vendors have an opportunity to serve SMBs with Wi-Fi management, network security, and other value-added services (VAS)," said Jennifer Kent, vice president of research at Parks Associates. "In addition, the market pressures SMBs have faced this year place new priorities on energy management and savings and technologies that can streamline operations and combine risk management with potential insurance savings."