Trends and themes from the Industry of Things World USA Survey Report 2017
Findings from the Industry of Things World USA Survey Report 2017 reveal that compared to Europe, the US is very advanced on the software side and IoT platforms, analytics tools, as well as AI approaches. Maria Relaki, Group Production Director at we.CONECT Global Leaders, the organizer of the Industry of Things World conference series, talks about the key results that shed light on the current state of the American IoT market.
A clear majority of the cross-industry IoT and Smart Manufacturing managers that participated in an online survey by Industry of Things World – conducted from August to October 2016 – considers Smart Manufacturing as the main driver and contributor for US manufacturing competitiveness.
“One interesting fact from this year is that 71% of the respondents actually have industrial IoT or Smart Manufacturing systems in their organization, compared with 41% who rated the importance of IoT project implementations in their companies as very important last year,” states Maria Relaki, Group Production Director at we.CONECT Global Leaders.
Relaki adds that another key finding is that access to necessary infrastructure is rated as the biggest challenge to implementing IoT within companies (53%), followed very closely by cost (46%). “The positive news is that in 2016 the biggest challenge was ‘uncertain ROI/ lack of business case’ – so here it seems we have had some significant progress. The business case is now a given and it’s a matter of making it happen,” she says.
The survey also reveals that Smart Manufacturing systems are not applied only on a machine (32%) or plant level (43%), but they are being more and more integrated across all levels (36%) within a business.
Challenges and opportunities
By far the biggest opportunity that IoT offers has been recognized as the increased efficiency (68%) that comes with smart manufacturing systems. “As the second biggest opportunity, respondents listed the competitive advantage that IoT can offer as well as, very interestingly, that it can increase product quality,” continues Relaki.
Access to necessary infrastructure is rated as the biggest challenge to implementing IoT within companies.
According to survey participants, some of the biggest challenges they face involve the lack of standards and interoperability, and costs associated with the integration of new systems. They also cited security breaches – that IoT needs a new security approach rather than the traditional one, for instance – and management buy-in as other factors that affect the implementation of industrial IoT technologies in their organizations.
Relaki believes that the industrial IoT landscape is going through a transition. Shifting industry boundaries are changing competition, and businesses need to be aware of that. “Traditional competitors need to look beyond their universe and keep an eye on how IoT technologies can enable other businesses to eat away parts of their market share.”
The interoperability of connected devices in the world of IoT is still a big issue, one that is subject to discussion. “How far away are we from a universal standardization? Discussing the implementation of open source and open standards might be a way to move into a direction with fast results,” offers Relaki.
While robotics is a theme that is becoming more and more relevant, she says that the human factor in all of this must not be forgotten. “The Internet of Things involves new ways of thinking about how humanity and technology can cooperate differently when ‘things’ get smarter. Augmented reality and virtual reality in manufacturing simulation, as well as M2M and Artificial Intelligence for improved productivity, will be discussed throughout the conference.”
Industry of Things World USA 2017
Organized by we.CONECT Global Leaders Industry of Things World USA is an international knowledge exchange platform where over 500 high level Industrial Internet of Things executives will meet. Scheduled to take place in San Diego, California from February 20 to 21, 2017, this year’s two-day program aims to encourage and inspire participants to rethink their technology and business strategy for scalable, secure and efficient IoT, from cloud, robotics and automation to standards, interoperability and security.
“We will have the pleasure of hearing from Alex Tapscott, a blockchain expert, on the impact of Blockchain on the Industrial Internet and how this will change the way we do business. Jeff Burnstein, President of the Robotic Industries Association, will discuss how robots in a smart factory can use self-optimization, self-configuration and artificial intelligence to complete complex tasks in order to deliver vastly superior cost efficiencies and better quality for goods or services,” shares Relaki.
At the same time, the event will attempt to demystify the complexity of getting started with integrating robotics into an IIoT network. “Small and medium sized companies in particular may be overwhelmed by jargon, fears about cost and the difficulty of knowing how to apply these technologies, so these talks will hopefully be of use to them in understanding how to explore robotics and IIoT further.”
To find out more about the agenda and speakers of Industry of Things World USA 2017, visit http://industryofthingsworldusa.com/en/.
Download the full survey report:
Maria Relaki works as Group Production Director at we.CONECT Global Leaders and is responsible for the Industry of Things World global event series.
Image credit: we.CONECT Global Leaders