- The Business Imperative of IoT
- Challenges to Adoption of Industrial IoT
- Application/Benefit: Operational Efficiency
- Application/Benefit: Preventative Maintenance
- Application/Benefit: Safety and Regulatory Compliance
- Application/Benefit: Remote Monitoring
- Application/Benefit: Asset Tracking
- Key Takeaways
- About Adam Lesser
- About Gigaom Research
With declining sensor costs, maturing analytics and ubiquitous broadband, almost every industry is grappling with how it can use the industrial Internet of Things (IoT) to become more competitive.
Simultaneously, deployment of industrial IoT has created a situation in which the CIO must have an eye toward developing ways to securely connect machinery and sensors while also producing valuable returns for those investments. With that in mind, industrial IoT has an array of potential benefits, including improved operational efficiency, remote monitoring, preventative maintenance, safety/regulatory compliance and asset tracking.
The CIO is already aware of the need to move toward a more connected enterprise, but a lack of industry-wide knowledge and examples of use cases are inhibiting implementation and even strategy. While each industry will necessarily have its own challenges and opportunities, the examples used in this report come from different sectors to create a framework CIOs can use to guide their own industrial IoT deployment.
Key findings in this report include:
- The current challenges to industrial IoT include the need for industrial standards, security risks, power efficiency of machines, and new hiring needs.
- Operational efficiency remains the number one benefit to IoT, including everything from simple point solutions in waste management to complex networking ecosystems in advanced manufacturing like semiconductor fabrication.
- Remote monitoring and asset tracking are set to grow as tools that the enterprise uses to manage labor costs, improve supply chain efficiency, and gain real-time visibility on inventory.
- Preventative maintenance will be redefined under IoT to include not just equipment failure but also the continual fine-tuning of equipment in order to maximize production efficiency.
- Safety and regulatory benefits of IoT should not be overlooked, as sensor data can be used as a tool for lowering compliance costs or even justifying infrastructure changes that can drive new revenue.
Thumbnail image courtesy of alengo/iStock.