The agribusiness and utilities sectors are leading the adoption of Internet of Things (IoT) technologies in Brazil, according to a recent study.

Some 45 percent of users polled in agribusiness have rolled out IoT technologies in their organizations, while 30 percent of utility companies have done the same, according to the research by IT services firm Logicalis.

By comparison, only 12 percent of manufacturing businesses in Brazil have implemented the technologies so far. This, according to the study, is due to inability to demonstrate the return on investment (ROI).

However, 56 percent of agribusiness initiatives related to IoT are strategic rather than ROI-focused, the research points out. But businesses on average are a lot more cautious and only 31 percent of firms across a variety of sectors will invest on IoT even if there is no payback guarantee.

According to the study IoT is considered as important or very important to business to 37 percent of those polled, up 27 percent on last year.

For 71 percent of respondents, the technologies will have high or very high priority within the next three to five years, up 62 percent on last year's survey.

Some 18 percent of those polled have already rolled out IoT-based technologies in their organizations, while 28 percent stated they have plans for such implementations in 2018.

The Logicalis study polled 176 decision makers across various sectors, 37 percent of which being companies with revenue of more than 500 million reais ($157 million)

Earlier this month, the Brazilian government announced the national IoT plan, aimed at placing the country in the forefront of the development of related technologies.