Wednesday, January 17, 2024

The 5 Stages Of IIoT Initiatives

 

IIoT solutions provide powerful tools for efficiency, agility, and sustainability, enabling real-time data monitoring, predictive maintenance, supply chain optimization, and improved collaboration. The current landscape shows increased investments in IIoT by both large and small organizations, with notable early adopters successfully โ€œcrossing the chasmโ€ and gaining more traction with the mainstream market. Microsoft, partnering with IoT Analytics, just released this week their ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ‘ ๐ƒ๐ข๐ ๐ข๐ญ๐š๐ฅ ๐Ž๐ฉ๐ž๐ซ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐’๐ข๐ ๐ง๐š๐ฅ๐ฌ โ€“ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐š๐ฅ ๐ˆ๐จ๐“ ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง ๐’๐ฉ๐จ๐ญ๐ฅ๐ข๐ ๐ก๐ญ report. In this report, statistics and best practices are presented for implementing Industrial IoT (IIoT) initiatives based on three approaches: custom-build, buy-and-integrate, and buy. Each approach is evaluated for its pros and cons. ๐๐จ๐ญ๐š๐›๐ฅ๐ž ๐ญ๐š๐ค๐ž๐š๐ฐ๐š๐ฒ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž: โ€ข ๐Ÿ”๐Ÿ“% of organizations are now executing an IoT strategy. โ€ข IIoT projects today have a ๐Ÿ๐Ÿ’% higher success rate than five years ago. โ€ข Projects have a median break-even time of ๐Ÿ๐ŸŽ ๐ฆ๐จ๐ง๐ญ๐ก๐ฌ, compared to ๐Ÿ๐Ÿ’ ๐ฆ๐จ๐ง๐ญ๐ก๐ฌ five years ago. โ€ข Approximately two in five IIoT projects today are custom-BUILD solutions. โ€ข The share of IIoT projects for which companies BUY an off-the-shelf solution increased from ๐Ÿ—% to ๐Ÿ‘๐ŸŽ% in the past two years. โ€ข Implementation challenges and budget restrictions have dropped by ๐Ÿ‘๐ŸŽ% and ๐Ÿ๐Ÿ‘%, respectively, as key concerns compared to five years ago. ๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐ญ๐ก๐ž ๐Ÿ๐ฎ๐ฅ๐ฅ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ: https://info.microsoft.com/ww-landing-digital-operations-signals-iiot.html ********************************************* โ€ข Follow Jeff Winter of Hitachi Solutions America on LinkedIn to stay current on Industry 4.0 and other cool tech trends. For FREE helping sourcing and designing a custom IoT ecosystem solution for your organization simply ask at the link below. Covers network connectivity, sensor technology, data analytics, and network security. http://ds3-bandwidth.com/iot-connectivity

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