Hardware Will Help You Scale Your IIoT Project
As software companies adjust to the capabilities of the Industrial Internet of Things (IIoT), OEMs and hardware manufacturers need to keep up to get IIoT projects to the next level, as well.
There are plenty of reasons to be excited about the IIoT. A 2022 survey by Bain & Company of five hundred IoT decision makers throughout Europe and the United States found that the number of organizations implementing proofs of concept grew almost 20 percent from 2018 to 2022, and it is expected to grow another 20 percent by 2026. All these companies report that their IIoT deployments are going as well or better than expected, with cost reductions and revenue increases of 30 to 40 percent.
However, the IoT is not growing as rapidly as once predicted. This is due to a struggle to scale beyond initial proofs of concept. Eighty percent of buyers scale fewer than 60 percent of their pilot projects, according to those surveyed. The top reasons for this include the complexity of integration, vendors that are unable to support scaling, and inadequate lifecycle support of the IoT solution. During proof of concept, these challenges can be solved through engineering resources and programmers, but that is not sustainable once an organization is ready to scale beyond the pilot project.
The IIoT initially focused on software, but that is not the case today – those benefits garnered from adding sensors for equipment, people, and materials in the field have been gathered. The next step, developing and realizing integrated IoT uses, is more complex. This will require the next level of intelligence which will rely on integrating information technology and operational technology, technical expertise in artificial intelligence algorithms and data science, and capacities like interoperability that become more complicated when machines become self-automated.
This is where hardware vendors and OEMs must step up. In the meantime, let 2W Tech help guide you on your journey in this digital transformation. Give us a call today and let our team of IT consultants help you ensure you are using the most appropriate technology to help your business thrive in this competitive market.