Almost half of respondents (47 per cent) surveyed in the State of connectivity in Europe study said 5G was the most important technology, followed by the metaverse (32 per cent), robotics and automation (30 per cent), 3D printing (29 per cent) and AI (8 per cent).
Despite the increased uptake of private networks in the UK, businesses said that they were being held back from deploying their own cellular networks, with 32 per cent citing a lack of digital skills and 25 per cent believing the complexity of change was a key hurdle.
Likewise, 68 per cent of companies said that despite the government's UK Wireless Infrastructure Strategy, investment in wireless connectivity was still too low, thus hindering progress. Broken down, 59 per cent said that poor connectivity was preventing students from developing the skills they need to succeed and 62 per cent believe it has a negative effect on public transport.
James Bristow, senior vice-president of EMEA at Cradlepoint, said that there is still a lot of work to do on cellular networks 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," he said. "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."
The report also found that almost all decision-makers (98 per cent) across all countries expect revenue to grow if they improved their connectivity infrastructure, with over a fifth (22 per cent) expecting it to grow by up to 29 per cent. This equated to an expected average of 19 per cent business revenue growth as a result of improved connectivity. Two-thirds of firms believe that a portion of this revenue growth will come from increasing sustainability efforts.
Yet for this to be realised, a similar number (64 per cent) said that they needed smarter facilities to boost their operational sustainability. This was cited a key driver as to why two-fifths (42 per cent) of organisations were prioritising upgrading their connectivity infrastructure with cellular connectivity, so they could take advantage of technologies such as IoT and AI to support their sustainability goals, alongside making their businesses more resilient and efficient.
Additionally, 77 per cent of firms said that they were unsure how many IoT devices are currently connected to their networks and how many could be added.
Cradlepoint added that considering the fact nearly half (45%) of businesses surveyed in the five countries experienced a network security attack in the past 12 months, of which 26 per cent were as a result of a compromised IoT device, it was clear that organisations are all too frequently leaving a gaping hole in their network infrastructure.