What Companies Seek From the Industrial IoT

What Companies Seek From the Industrial IoT

What Companies Seek From the Industrial IoT

The IIoT can provide more efficient operations, as well as better product and services differentiation. But obstacles may prevent full-scale deployment.

Top Topic

More than 60% of the global executives surveyed said the industrial internet of things (IIoT) represents a technology of growing or high interest and focus in their organization.

Making a Difference

More than 40% said the IIoT will have either a significant or major impact on their industry over the next three years.

Significant Buy-In

55% of the global executives surveyed said the IIoT is gaining adoption in their industry, including pilot projects and large-scale adoption.

Selling Points

47% believe the IIoT can make operations more efficient, while 36% said it can create product and services differentiation.

Engaging Proposition

34% of the global executives surveyed think the IIoT can improve customer engagement and satisfaction, and 26% said it can increase productivity.

Primary Focal Points of IIoT Investments

New products and services: 35%,
Customer touch points: 29%,
Manufacturing: 23%

Top Benefits of the IIoT

Improved equipment uptime and performance: 37%,
Better operational intelligence: 27%,
Self-diagnosis and automation: 26%,
Operational efficiencies: 25%,
Reduced maintenance costs: 19%

People Problem

61% of the survey respondents said their organization has a large or major skills gap in achieving operational connectedness with the IIoT and taking advantage of IIoT-generated data.

Improvement Points

51% reported that their company will need new tech skills to successfully pursue IIoT adoption, while 41% said they will need better data integration and analytics capabilities.

Average Assessment

Just 37% of the global executives surveyed rated as good or excellent their company’s ability to develop and deploy apps that utilize real-time insights and systems monitoring.