Canadian business is implementing Internet of Things (IoT) technology faster than expected in order to cut costs and boost productivity.

BetaKit’s article covered the recent IDC report “The Internet of Things: Get Ready to Embrace Its Impact on the Digital Economy.”

It found that Canadian adoption of IoT was running at more rapid rates than previously forecast. It found that 45% of mid- to large-sized companies in the country had incorporated at least one IoT system. This compares favourably to the U.S. rate of 51% adoption, as Canada usually trails 18-24 months behind in current American technology trends.

As well, IDC learned that 55% of the Canadian companies surveyed said they plan to make investments in IoT this year.

“The world of connected devices only gets more exciting and complex as industries continue to explore connectivity in consumer, enterprise, and industrial settings,” said IDC Canada research director Nigel Wallis.

Wallis saw Canadian IoT adoption rates, which are running about in the middle of the pack globally, as not slowing down any time soon.

Canadian shipments rising

Shipments of IoT equipment has soared at rapid rates, with 20 million devices shipped last year alone.

The Canadian firms said that they were implementing IoT solutions in order to reduce costs of their operations. As well, they saw the technology as enhancing the efficiency and productivity of their operations.

Canada is increasingly jumping on the wave of connected technology that is driving the IoT revolution.

In June GM Canada announced it is expanding R&D into autonomous vehicles by hiring between 300 and 1,000 engineers for its new Automotive Software Development Center in Markham, Ontario.

Also in June, Canada saw its first LPWAN network for IoT rolled out in Waterloo, Ontario, birthplace of the Blackberry phone.