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 “crossing the chasm” and gaining more traction with the mainstream market. Microsoft, partnering with IoT Analytics, just released this week their 𝟐𝟎𝟐𝟑 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐒𝐢𝐠𝐧𝐚𝐥𝐬 – 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐨𝐓 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐒𝐩𝐨𝐭𝐥𝐢𝐠𝐡𝐭 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. 𝐍𝐨𝐭𝐚𝐛𝐥𝐞 𝐭𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞: • 𝟔𝟓% of organizations are now executing an IoT strategy. • IIoT projects today have a 𝟏𝟒% higher success rate than five years ago. • Projects have a median break-even time of 𝟐𝟎 𝐦𝐨𝐧𝐭𝐡𝐬, compared to 𝟐𝟒 𝐦𝐨𝐧𝐭𝐡𝐬 five years ago. • Approximately two in five IIoT projects today are custom-BUILD solutions. • The share of IIoT projects for which companies BUY an off-the-shelf solution increased from 𝟗% to 𝟑𝟎% in the past two years. • Implementation challenges and budget restrictions have dropped by 𝟑𝟎% and 𝟏𝟑%, respectively, as key concerns compared to five years ago. 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭: https://info.microsoft.com/ww-landing-digital-operations-signals-iiot.html ********************************************* • 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