We all know the Internet of Things is set to revolutionize the manufacturing industry but how will this happen? A new study of manufacturers across 12 different countries has provided quantified answers to the questions the industry is asking.

Who Is Adopting IoT and Why?

Andrew Kinder for | Internet of Business

 

Who Is Adopting IoT?

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1/3 manufacturers will have IoT in operation next year

Of these:

  • 10% already have IoT operations running

  • 22% are planning an IoT project next year or already have a pilot in place

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38% are investigating IoT's potential

The report recommends that CIOs should look at device data already being collected and examine what could be done if data analytics was used to investigate this data, and if it was distributed to decision makers, or sold to people outside of the organisation.

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28% of manufacturers see IoT in their top three priorities for 2016

  • 10% see it as their number one priority for the year ahead
 
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Why are they adopting IoT?

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55% see cost savings & operational efficiency as the main benefit of IoT

What are the other benefits of adoption?

  • 20% of manufacturers expect benefits through enhanced productivity

  • 15% through better insight and decision-making

  • 13% through new revenue streams

  • 11% percent through new services

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Who is driving IoT?

31% see IoT being driven by their executive team

Where else do manufacturers see IoT sitting within their business?

  • 28% within IT

  • 13% within manufacturing operations

  • 6% within facilities

  • 5% within marketing

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The final word...

Manufacturers, challenged by the constant need to improve productivity, see the competitive advantage available to them through exploiting IoT technologies. This research confirms that over half of manufacturers recognize the potential and are either piloting projects or actively investigating use-cases

Andrew Kinder, VP industry & Solution Strategy, Infor

 

The content & opinions in this article are the author’s and do not necessarily represent the views of ManufacturingTomorrow

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