From Part I , you might have got a clear picture of trends that are going to dominate Industrial IoT in 2017. Here are some more which will make that picture much clearer for you.
6. Business areas that are benefiting the most from IIoT –
Operations, engineering, logistics, facility management, people monitoring and training emerged as top areas which are benefiting the most from IIoT:
Here is the list:
- Operations & engineering – IoT improves operational efficiency, productivity and the ability to support current and future operational needs. It also multiplies your current engineering capabilities using cutting edge technologies. Automation is one of the major reason why companies are chasing IoT, says Ayush Jain CEO, Mindbowser.
- Logistics has been shying away from IoT for quite a long time, but it can’t anymore. Just recently released press release by DHL implies how supply chain is making smart glasses new standard across logistics operations. IoT offers plethora of applications for logistics in terms of RTLS (Real Time Location System), Inventory management, Traffic & Fleet management etc.
- Facility management – IoT applications for facility management include use of environmental sensors, space optimisation, indoor navigation, energy monitoring and management, security and safety etc. Using advanced wireless sensors, facility management can achieve new heights.
- People monitoring and people training – Using card beacons you can monitor your staff in real time. You get detailed analytics of where your staffs are, where they have been and how long it took for them to move from point A to point B. Also, using AR/VR technology, you can train your staff by creating an immersive virtual experiences. You can conduct interactive lessons where visualisation can be a big help in terms of concept understanding.
7. Most popular Industrial IoT technologies –
There is no shortage of IoT technologies but wireless sensors seem to rule the Industrial IoT world with 64% respondents saying they have used smart sensors for their IIoT solutions followed by M2M technologies, Machine Learning, Cloud Computing and BLE (Bluetooth Low Energy).
8. Industries that are benefiting the most from IIoT solutions –
Of course, IoT applications are not limited to couple of industries. Still, some industries emerged as major beneficiaries of Industrial IoT than others. Here’s the list of top 5 industries which, according to survey participants, will benefit the most from Industrial IoT
- Manufacturing
- Automotive
- Oil & Gas
- Petrochemical
- Logistics
9. Current focus of Industrial IoT service providers –
When we interviewed IIoT service providers, following patterns came out to be the most dominant :
- 80% IIoT service providers are focused on increasing their market share
- 74% service providers said they are working on creating new services based on smart connected products
- 67% IIoT service providers are focused on building a quality industry network which can be converted into a business in long run.
Summary
The Need: Companies that move fast to tackle the necessary transformation today will position themselves as future leaders in their markets. And Industrial IoT is at the core of this transformation.
The Catalyst: Rise of Smart Sensors, Robotics & Automation, Augmented/Virtual reality, Big Data Analytics etc. along with favorable government policies are major drivers for IIoT.
The Restraint: Poor budget allocation, privacy concerns, incompatibility of existing systems along with technology illiteracy are anticipated to restrain the growth of IIoT. In the end, I would like to thank all the IoT enthusiasts who participated in the survey.
The author of this blog is Ayush Jain, CEO at Mindbowser
About the author:
Ayush has been involved in building solutions for multiple industries as an architect and then as a consultant. He expertises in building simple solutions for complex problems. He is a marketer by nature and keeps himself updated with latest technology trends.
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