The Industrial Internet of Things: Are We There Yet?
The Internet of Things (IoT) has been described as the next industrial revolution. New research indicates we're getting closer to it becoming a reality for manufacturers.
We've already seen significant growth in communication between machines and other devices, but as the number of technologies connected to the internet increases, the potential for manufacturers to achieve an even greater level of automation increases exponentially.
However, IoT is more than just technology, it's an approach to becoming more insightful, proactive and agile. IoT connects people, processes, data and things in an intelligent way for smarter decision making.
New research from International Data Corporation (IDC) and a recent survey commissioned by Infor, indicates manufacturers globally are working to make IoT a reality on the factory floor.
We've turned the data published into an easy to digest infographic. You'll find a link to the original article "IIoT in Manufacturing: Are We There Yet?" at the end.
The Infor survey also revealed that 65% of global manufacturers surveyed identified cost savings from greater operational efficiencies as the biggest benefit of IoT. Other benefits of IoT anticipated:
- Greater productivity
- Better insights and decision-making
- Greater utilisation of equipment and machinery
- Visibility and traceability across the supply chain
- New revenue streams