By now few people have heard the term IoT in one way or another. But what about IIoT? In the industry, a sector that advances and changes in leaps and bounds, this term: the Industrial Internet of Things (Industrial Internet of Things) comes into play.
The objective of this technology is to achieve greater optimization of operational efficiency and industrial production. That is, to make manufacturing production more flexible, profitable and sensitive to the changes requested by the market.
The IIoT connects machines to the Internet, enabling remote monitoring of the data each device offers, reducing machine downtime and making systems fully available. It also allows industrial organizations to break data silos and connect all their employees, their data and processes from factory to office.
Industrial IoT Growth (IIoT)
According to a recent MindBowser study, the Industrial IoT market is expected to witness substantial growth in the near future.
Industries seem to understand the importance of Internet of Things solutions and their impact on business, as, according to the study, 64% respondents said they understood and were planning to carry out an IIoT project in the coming year . While the 36% have no plans to implement IIoT solutions in the coming year, although of that percentage the 83% are aware that they still need to improve the efficiency of their machines.
In addition, 57% of respondents think that IoT is very important to the future success of their company, the 28% thinks it is important, the 12% thinks that somehow it may be important, and only the 3% thinks that it will not be important in All.
On the other hand, according to the study, of those who have implemented IIoT solutions in their companies, the 19% seems to be very satisfied with those solutions, while the 9% are quite dissatisfied. Nearly 17% said they did not see clear results, while 42% respondents said they were happy with the solutions implemented.
Areas of improvement
Those who have implemented IIoT solutions in their organizations think there is still room for improvement. Most respondents (71%)believe that the Industrial Internet of Things needs better alignment with income generation. In addition, 42% of respondents said they need better internal connectivity between their machines. Nearly 37% of the companies admitted that their system needs a technological upgrade. In 27% cases, human resources training was insufficient. The 14% of respondents felt that the solutions should be more attractive and more fun to use, and the 8% felt that it was too early to identify any areas of improvement.
Moreover, according to MindBowser’s study, the business areas that benefit most from IIoT and in which companies invest the most are the area of operations (57% ), engineering (43 %), maintenance (41% ), logistics (38%) facilities management (29%).
And the most commonly used technologies for the construction of these IIoT solutions are smart sensors (64%), M2M (57%), Machine Learning (44%),Cloud Computing (43%)and Bluetooth Low Energy or BLE (28 %).
According to Shamik Dasgupta, HoneyWell’s Leader in IIoT platforms, “I see big data, data analytics, computing, Machine learning, deep learning, and other IIoT platforms as emerging trends over the next 5 years.”
Main obstacles to its implementation
Many companies are implementing IIoT, but few cases and projects are still really successful, this is due to a number of obstacles that impede the success of these IIoT projects.
For 62% respondents, a lack of budget is one of the main obstacles to implementing IIoT solutions. This may be because not enough funds are being allocated to innovate and explore new opportunities brought by IIoT.
The lack of budget is followed by the uncertainty over the ROI, with 57% of the respondents seeing it as an obstacle to implementing IIoT in their companies. This is followed by the incompatibility%of the existing system (35) as the third major obstacle.
Factors that motivate its construction
There are obstacles, but there are also many factors that motivate companies to implement IIoT solutions. First, 57% of the respondents believe that the main factor is the fact that they can gain a competitive advantage. The 36% thy children in mindBowser’s study opined that growth was another important factor. IoT is taking digital adoption to another level, not only in the consumer industries, but also in manufacturing, the supply chain and other areas. This in turn translates into operational excellence, the discovery of new revenue models, greater employee engagement, and improved customer experience. All of this drives the company’s growth. The 13% of the respondents believe that an important factor is also agility, 11% compliance, and 6% cost reduction. IIoT solutions help companies with energy management, actionable data search, asset failure prediction, identifying new revenue streams, and many other ways to reduce costs and increase profits.
