Most companies acknowledge that the future of their business relies on the Industrial Internet of Things (IIOT). However, it seems that not all companies are prepared for the change. Some are having problems with integrating IIOT for a variety of reasons, one of which includes not yet realizing how they will benefit from IIOT.
According to a survey conducted by the Business Performance Innovation Network (BPI), about 50% of executives expect IIOT to have a significant impact on the performance of their business in the next couple of years. In addition, the survey found that less than 2% of executives said that they’ve made changes in order to allow the seamless integration of IIOT into their systems.
The survey, titled, “The Impact of Connectedness on Competitiveness,” questioned several executives from top International companies including Whirlpool and Japan-based Hitachi.
“That dichotomy suggests we are experiencing the lull before the storm of IIoT transformation,” said Dave Murray, head of thought leadership for the BPI Network. “This is an opportunity for real competitive differentiation and advancement.”
Of course, tech companies have dealt with IIOT differently. Many, if not all, immediately embraced the change, with some even creating their own proprietary IIOT products. Tech giant Samsung started supporting the LoRAWAN technology, which is a Low-Power Wide Area (LPWA) technology that uses unlicensed spectrum, and with the purpose of providing IoT services.
Samsung has long been a staunch purveyor of IoT, and this is obvious not only with their support for LoRAWAN but with the direction that they’re taking with their smartphone lines as well. Their recently launched flagship devices, the Samsung Galaxy S8 and S8+, can be interconnected with Invoke, which is a Microsoft-powered speaker developed in collaboration with Harman Kardon. In addition, in a post featuring both handsets, tech website O2 noted that the mobile gadgets’ AI works as a personal assistant and concierge, furthering the device’s function as IIOT material. Bixby is rumored to be smarter than Siri, and Apple would have to make improvements with their personal assistant if they want to be on neutral grounds with Bixby.
What does the future hold for IIOT?
Only 13% of the respondents say that their company had an excellent rating in their aptitude to produce applications that use IIOT functions such as real-time data gathering and monitoring.
According to the Juniper Research, there will be over 40 billion connected IOT devices by 2021, which is a 200% increase from last year. Call center company Accenture mirrors the prediction, saying that IIOT could add up to $14.2 trillion to the global market by the next decade.
“The tidal wave that is connectedness and IIoT is building rapidly and it is unavoidable,” said Chris Locher, the Vice President of Software Development for The Nerdery Company. “The challenge of the IIoT revolution is that it is accompanied by a great deal of white noise and confusion. How will companies capture those opportunities? How do companies avoid the risk of failing at an IIoT initiative? How do you find employees with the skill to do it?”
The Nerdery is an authority in IIOT, with some of its services including software engineering, online marketing, and design. It is one of the few partners of BPI that helped write the report, along with Penton’s IoT Institute and CMO Council.
A few more highlights of “The Impact of Connectedness on Competitiveness” include 30% of the executives who participated in the survey saying that their organization faced a “major skill gap” in IIOT readiness. On the other hand, another 30% said that their talent pool is big enough but it isn’t going in the direction to adapt fully to the IIOT.
Note: Tremendous thank you’s go out to JandTech for writing and submitting this special edition guest blog post!
For years now, organizations around the world use Tools.Valarm.net for their IIoT and remote monitoring needs.
- Are YOU, your teams, and your organization ready for Industrial IoT and remote monitoring systems?
- So what can YOU do to take advantage of IIoT to improve your business operations and save time and money?
Whether you need to monitor water, air quality, bridges, hydraulics, fleet vehicles with industrial equipment, machinery, trucks, trailers, flood monitoring systems, or anything else, we’re happy to help your organization monitor anything, anywhere. with Tools.Valarm.net, you can use the internet connectivity that works best for each of your applications, whether it’s WiFi, Ingenu, 3G GSM, or any other network.
Who uses Tools.Valarm.net for remotely monitoring IIoT? Take a gander at our Customer Success Stories page.
You’ll find examples of how Tools.Valarm.net is used by various industries to remotely monitor things like:
- Air Quality and Pollution
- Tank Levels and Volumes for Chemical Distribution
- Water Well Flow Meters and Pressure Transducers for Water Resources Management
- Remote Environmental Monitoring
- Fleet Vehicles, Trucks, and Trailers with Industrial Equipment and Assets like Pumps, Generators, Vacuums, Tanks, and Pumps
Since Tools.Valarm.net is an open platform, your organization can remotely monitor sensors made by just about any hardware manufacturer around the world. You can use sensor standards (like RS-232, Modbus, 4-20mA, and PWM) to cost-effectively monitor sensors made by any sensor company. Below are a few favorites our customers like to use:
- Campbell Scientific
- Decagon / METER
- Foxboro / Schneider Electric
- EKM Metering
- Eno Scientific
How can you, your teams, and your organization improve operations and benefit from effective Industrial IoT applications?
Use custom Web Dashboards to remotely monitor your sensor systems from any of your devices, like phones or tablets.
Please don’t hesitate to Talk To Us at Info@Valarm.net or ring us up on your telephone at (424) 442-0963 if you’ve got any questions.