IIoT Survey 2017 [Industrial IoT Market Research Report]
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Transcript of IIoT Survey 2017 [Industrial IoT Market Research Report]
INDUSTRIAL IOT SURVEY 2017CURRENT STATE OF IIOT AND IT'S FUTURE OUTLOOK
A RESEARCH STUDY BY MINDBOWSER IN ASSOCIATION WITH 'THE IOT MAGAZINE '
The study focuses on understanding the current state of 'Industrial IoT (IIoT)' and its future outlook. The
objective is to understand and forecast industry trends and business sentiments.
The survey was conducted over the period of April 2017 - June 2017. Questionnaires and interviews
were major data collection tools.
350+ individuals participated from wide array of industries including Manufacturing. Agriculture,
Industrial Machines and Equipments, Logistics, Aerospace, Chemical/Petrochemical, Oil & Gas,
Consumer Goods, Electric Power etc.
In-depth data analysis is done with Graphs, Pie-Charts and data tables. We tried our best to derive the
most accurate results and crystal clear trends. From our research, it is quite clear that Industrial IoT
market is anticipated to witness a substantial Growth in near future.
This research study is conducted by Mindbowser in association with TheIoTMagazine.com.
Mindbowser is a major IoT solutions provider offering it's services across multiple industries.
'The IoT Magazine' is the most active online community of IoT experts and enthusiasts.
INTRODUCTION TO THE SURVEY
SPECIAL MENTIONS
SHAMIK DASGUPTA
IOT LEADER HONEYWELL
CRAIG ATKINS
GLOBAL ENTERPRISE MOBILITY GENERAL MOTORS
MAARTEN ECTORS
CHIEF DIGITAL OFFICER - GI LEGAL & GENERAL
ASHITOSH GHODAKE
RESEARCH ASSOCIATE MINDBOWSER
TRAVIS YEOMANS
BDM - NATIONAL ACCOUNTS NATIONALEASE
STEFFEN VON BUENAU
PRODUCT-MARKET STRATEGIST KONTAKT.IO
PARTICIPANT PROFILE
PARTICIPATING ORGANISATIONS
Industries :
Aerospace Chemical / Petrochemical - Electric Power / Electrical Consumer Electronics Consumer Durables Consumer Goods Food and Beverage Industrial Machines and Equipments Mining & Metals Medical Equipment / Pharma Manufacturing Oil & Gas Hardware Software Agriculture Trucking/Transportation Banking
UNDER $500 MILLION
$500 MILLION - $1 BILLION
$1 BILLION - $5 BILLION
OVER $5 BILLION
*Based on revenue (USD)
63%
17%
13%
7%
64%Respondents said they are either engaged in or planning an IIoT project in next 1 year
IS YOUR ORGANISATION CURRENTLY ENGAGED IN OR PLANNING AN IIOT PROJECT IN NEXT 1 YEAR?
36% Respondents do not have any plans to implement IIoT solutions in next 1 year. (Among these, 83% still feel that they need to increase the efficiency of their machines)
Yes
64%
YesNo
I EXPECT DECISIONS BY MANY COMPANIES TO BEGIN ROLLING
OUT IIOT SOLUTIONS. TO DATE THERE HAS BEEN TOO MUCH
DISCUSSION WITH LITTLE TO NO ACTION.
JIM HIRSCH - VP NA INDUSTRIAL IOT WIND RIVER, DIVISION OF INTEL IOTG
57 PERCENTR E S P O N D E N T S T H I N K T H A T I I O T I S V E R Y I M P O R T A N T T O T H E I R
C O M P A N Y ' S F U T U R E S U C C E S S
Not at all 3%
Somewhat 12%
Important 28%
Very Imp
57%
HOW IMPORTANT IS IIOT TO YOUR COMPANY'S FUTURE SUCCESS?
ARE YOU AMONG THE INDUSTRY LEADERS IN YOUR IIOT JOURNEY?
66% respondents admitted that they are yet to become industry leaders in their IIoT journey.
Yes 26%
Almost There 66%
No 8%
MAJOR HURDLES BEHIND IMPLEMENTING SUCCESSFUL IIOT PROJECTS
TIME MONEY SAFETY
0
14
28
42
56
70
No Bu
dget
Uncer
tain R
OI
Inco
mpatib
ility
No str
ategy
Priva
cy co
ncer
ns
No Mgm
t. Visi
on
Comple
xity
Time b
andw
idth
No Re
quire
ment
othe
r
Lack of budget seems to be the major hurdle for 62% respondents in implementing IIoT projects followed by uncertainty about ROI (57%) and Incompatibility of existing system (35%).
62%COMPANIES SAID THAT
THEY DON'T HAVE ENOUGH BUDGET TO
IMPLEMENT IIOT SOLUTIONS
SECURITY WILL BE A LARGE COMPONENT OF IIOT. WE ARE
SEEING WHAT KIND OF HAVOC CAN BE UNLEASHED WITH
UNSECURED DEVICES, SO SECURING IIOT DEVICES WILL BE
CRUCIAL.
WILLIAM AJA - VP CUSTOMER OPERATIONS PANACEA TECHNOLOGIES INC.
MOTIVATION FACTORSBEHIND BUILDING IIOT SOLUTIONS
57%
GAIN COMPETITIVE
ADVANTAGE
36% 13% 11% 6%
GROWTH AGILITY COMPLIANCE REDUCED
COSTS
SATISFACTION LEVEL WITH CURRENT IIOT SOLUTIONS
0
10
20
30
40
50
Satisfied Very Satisfied No clear results Neutral Dissatisfied VeryDissatisfied
19% respondents seem to be very satisfied with their current IIoT solutions while 9% are fairly dissatisfied. Almost 17% people said they don't see any clear results as of now. While 42% respondents are happy with existing IIoT solutions.
C O N N E C T I V I T Y B E T W E E N P R O D U C T S / M A C H I N E S 4 2 %
S K I L L E D H U M A N R E S O U R C E2 7 %
I T ’ S T O O E A R L Y T OI D E N T I F Y G A P S 8 %
C O N T R I B U T I O N T O R E V E N U E G E N E R A T I O N 7 1 %
1 4 % M O R E A T T R A C T I V E A N D F U N T O U S E S O L U T I O N S 3 7 % T E C H N O L O G Y U P G R A D E
AREAS OF IMPROVEMENT IN CURRENT IIOT SOLUTIONS
Majority of respondents (71%) believe that IIoT solutions need better alignment with revenue generation. Also, 42% people said they need better internal connectivity between their machines. Almost 37% companies admitted that their system needs a technology upgrade. Human resource training is lacking in 27% of the cases.
WHICH BUSINESS AREA(S) ARE YOU BUILDING YOUR IIOT SOLUTION FOR?
TIME MONEY SAFETY
0
15
30
45
60
Ope
ratio
ns
Enginee
ring
Maint
enan
ce
Logistics
Facilit
y M
gmt. IT
PeopleM
onito
ring
Training
Operations(57%), Engineering(43%) and Maintenance(41%) came out to be the top areas to build IIoT solutions for, followed by Logistics(38%), Facility Management(29%) and other domains such as IT, People Monitoring and Training.
TECHNOLOGIES USED TO BUILD IIOT SOLUTIONS
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 (57%), Machine Learning (44%), Cloud Computing (43%), BLE (28%) and other technologies.
0%
14%
28%
42%
56%
70%
Wire
less
Sen
sors
M2M
Mac
hine
Lea
rning
Cloud
Com
putin
gBLE
Robot
ics
Wea
rables
AR/VR
Smar
t Building
Wireless Sensors
M2M
Cloud Computing
Machine Learning
Bluetooth Low Energy (BLE)
MOST POPULAR IIOT TECHNOLOGIES
I SEE DATA AND ANALYTICS, EDGE COMPUTING, MACHINE
LEARNING, DEEP LEARNING AND OTHER IIOT PLATFORMS
AS EMERGING IIOT TRENDS FOR NEXT 5 YEARS
SHAMIK DASGUPTA - IIOT PLATFORMS LEADER HONEYWELL
INDUSTRIES THAT ARE BENEFITING THE MOST FROM IIOT SOLUTIONS..
Automotive
Oil & Gas
Petrochemical
Logistics
Mining & Metals
Aerospace
Pharma
Manufacturing Sensors
67%
58%
57%
51%
48%
46%
43%
42%
34% Hardware
Consumer Electronics
Consumer Durables
Consumer Goods
Electric Power
Food and Beverage
Software
Field Service
Industrial Machines31%
29%
27%
22%
20%
18%
14%
7%
INDUSTRIES THAT ARE BENEFITING THE MOST FROM IIOT SOLUTIONS ?
FUTURE INDUSTRIES WILL BE ABLE TO LEVERAGE TOMORROW’S
TECHNOLOGIES FAR FASTER THAN ANYTHING TODAY. IT IS A
GREAT POSSIBILITY THAT ENTIRELY NEW INDUSTRIES WILL BE
LAUNCHED IN NEAR FUTURE. WHICH MIGHT INCLUDE ASTEROID
MINING,CRYPTOCURRENCY, INSTANT LEARNING, CURE FOR
HUMAN AGING, HUMAN CLONING OR 3D PRINTED BODIES,
ARTIFICIAL INTELLIGENCE ETC.
THOMAS FREY- FUTURIST SPEAKER, FOUNDER AND EXECUTIVE DIRECTOR DAVINCI INSTITUTE
80% IIoT Solution providers are focused on increasing their market share
74%respondents said they are working on creating New services based on smart connected products
67% IIoT solution providers are focused on building a quality industry network
CURRENT FOCUS OF IIOT SOLUTION PROVIDERS
TYPICAL SIZE OF IIOT PROJECTS
upto $50K 17%
$50K-$100K 47%
$100K-$1M 30%
$1M+ 6%
IN COMING TIMES, BLUETOOTH LOW ENERGY WILL EXPAND INTO
SENSORS, LOCATION WILL BE USED AS A KEY DATA POINT AND
WE WILL WITNESS MORE EFFECTIVE PARTNERSHIPS BETWEEN
DIFFERENT PLAYERS (INTEGRATORS, TECHNOLOGY PROVIDERS,
SOLUTION PROVIDERS)
STEFFEN VON BUENAU - PRODUCT-MARKET STRATEGIST KONTAKT.IO
SUMMARYTHE NEED
WHAT DOES ALL THIS MEAN ?
Companies that move fast to tackle the necessary transformation today will position themselves as future leaders in their markets. And IIoT 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.
BIGThanks
To..
BIGThanks
To..
Jim Hirsch - VP NA Industrial IoT, Wind River, Division of Intel IoTG
Shamik Dasgupta - IIoT Platforms Leader, Honeywell
Steffen von Buenau - Product-Market Strategist, Kontakt.io
Aaron Salow - CEO, XOEye Technologies
Andy Lowery - CEO, RealWear
William Aja - VP Customer Operations, Panacea Technologies Inc.
Michael W. Wellman - CEO, Virgil Security, Inc.
BIGThanks
To..
Morgan Abraham - CEO, UGo Smoothies
Jaime Athos - President & CEO, Tofurky
Gary Nija - CEO, Green and Grow
Pete Hinzy - VP, Prater Industries
Michael Pereira - Partner, Resogen
Robert Vogt - CTO, Voyomotive
Craig A. Atkins - Chief Architect, General Motors
Alfredo Cartagena - Sr. Manager Infrastructure, Karma Automotive Inc
Travis Yeomans - BDM, NationaLease
BIGThanks
To..
Jennifer Mackey - Sr Director Logsitics Services, Odyssey
Jeremy Cowperwaite - Fluidic energy
Maarten Ectors - Chief Digital Officer - GI, Legal & General
Shane Saunderson - Vice President, IC/things, Idea Couture Inc.
Erik Walenza - CEO, IoT ONE
Merwan benhabib - VP Engg., Ondavia, Inc
DISCLAIMER
COPYRIGHT © 2017 MINDBOWER INFO SOLUTIONS & 'THE IOT MAGAZINE'
FEEL FREE TO USE THE DATA FROM THIS STUDY WHEREVER YOU FIND IT SUITABLE. JUST PROVIDE REFERENCE TO THE ORIGINAL REPORT WHERE
THE CREDIT IS DUE.