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IIoT Survey 2017 [Industrial IoT Market Research Report]

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Download the survey here : http://mindbowser.com/iiot-market-survey-2017/

The study focuses on understanding the current state of ‘Industrial IoT’ — IIoT market and its future outlook. The objective is to understand and forecast industry trends and business sentiments.

350+ individuals participated from wide array of industries including Manufacturing. Agriculture, Industrial Machines and Equipments, Logistics, Aerospace, Chemical/Petrochemical, Oil & Gas, Consumer Goods, Electric Power etc.

In-depth data analysis is done with Graphs, Pie-Charts and data tables. We tried our best to derive the most accurate results and crystal clear trends.

This research study is conducted by Mindbowser in association with TheIoTMagazine.com.

Published in: Technology
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IIoT Survey 2017 [Industrial IoT Market Research Report]

  1. 1. INDUSTRIAL IOT SURVEY 2017 CURRENT STATE OF IIOT AND IT'S FUTURE OUTLOOK A RESEARCH STUDY BY MINDBOWSER IN ASSOCIATION WITH 'THE IOT MAGAZINE'
  2. 2. The study focuses on understanding the current state of 'Industrial IoT (IIoT)' and its future outlook. The objective is to understand and forecast industry trends and business sentiments. The survey was conducted over the period of April 2017 - June 2017. Questionnaires and interviews were major data collection tools. 350+ individuals participated from wide array of industries including Manufacturing. Agriculture, Industrial Machines and Equipments, Logistics, Aerospace, Chemical/Petrochemical, Oil & Gas, Consumer Goods, Electric Power etc.      In-depth data analysis is done with Graphs, Pie-Charts  and data tables. We tried our best to derive the most accurate results and crystal clear trends. From our research, it is quite clear that Industrial IoT market is anticipated to witness a substantial Growth in near future.   This research study is conducted by Mindbowser in association with TheIoTMagazine.com. Mindbowser is a major IoT solutions provider offering it's services across multiple industries. 'The IoT Magazine' is the most active online community of IoT experts and enthusiasts.    INTRODUCTION TO THE SURVEY
  3. 3. SPECIAL MENTIONS SHAMIK DASGUPTA IOT LEADER HONEYWELL CRAIG ATKINS GLOBAL ENTERPRISE MOBILITY GENERAL MOTORS MAARTEN ECTORS CHIEF DIGITAL OFFICER - GI LEGAL & GENERAL ASHITOSH GHODAKE RESEARCH ASSOCIATE MINDBOWSER TRAVIS YEOMANS BDM - NATIONAL ACCOUNTS NATIONALEASE STEFFEN VON BUENAU PRODUCT-MARKET STRATEGIST KONTAKT.IO
  4. 4. PARTICIPANT PROFILE PARTICIPATING ORGANISATIONS  Industries : Aerospace Chemical / Petrochemical - Electric Power / Electrical Consumer Electronics Consumer Durables Consumer Goods Food and Beverage Industrial Machines and Equipments Mining & Metals Medical Equipment / Pharma Manufacturing Oil & Gas Hardware Software Agriculture Trucking/Transportation Banking UNDER $500 MILLION $500 MILLION - $1 BILLION $1 BILLION - $5 BILLION OVER $5 BILLION *Based on revenue (USD) 63% 17% 13% 7%
  5. 5. 64% Respondents said they are either engaged in or planning an IIoT project in next 1 year IS YOUR ORGANISATION CURRENTLY ENGAGED IN OR PLANNING AN IIOT PROJECT IN NEXT 1 YEAR? 36% Respondents do not have any plans to implement IIoT solutions in next 1 year. (Among these, 83% still feel that they need to increase the efficiency of their machines) Yes 64% YesNo
  6. 6. I EXPECT DECISIONS BY MANY COMPANIES TO BEGIN ROLLING OUT IIOT SOLUTIONS. TO DATE THERE HAS BEEN TOO MUCH DISCUSSION WITH LITTLE TO NO ACTION. JIM HIRSCH - VP NA INDUSTRIAL IOT WIND RIVER, DIVISION OF INTEL IOTG
  7. 7. 57 PERCENT R E S P O N D E N T S T H I N K T H A T I I O T I S V E R Y I M P O R T A N T T O T H E I R C O M P A N Y ' S F U T U R E S U C C E S S Not at all 3% Somewhat 12% Important 28% Very Imp 57% HOW IMPORTANT IS IIOT TO YOUR COMPANY'S FUTURE SUCCESS?
  8. 8. ARE YOU AMONG THE INDUSTRY LEADERS IN YOUR IIOT JOURNEY? 66% respondents admitted that they are yet to become industry leaders in their IIoT journey. Yes 26% Almost There 66% No 8%
  9. 9. MAJOR HURDLES BEHIND IMPLEMENTING SUCCESSFUL IIOT PROJECTS TIME MONEY SAFETY 0 14 28 42 56 70 No Budget Uncertain RO I Incom patibility No strategy Privacy concerns No M gm t.Vision Com plexity Tim e bandw idth No Requirem ent other Lack of budget seems to be the major hurdle for 62% respondents in implementing IIoT projects followed by uncertainty about ROI (57%) and Incompatibility of existing system (35%).  
  10. 10. 62% COMPANIES SAID THAT THEY DON'T HAVE ENOUGH BUDGET TO IMPLEMENT IIOT SOLUTIONS
  11. 11. SECURITY WILL BE A LARGE COMPONENT OF IIOT. WE ARE SEEING WHAT KIND OF HAVOC CAN BE UNLEASHED WITH UNSECURED DEVICES, SO SECURING IIOT DEVICES WILL BE CRUCIAL.  WILLIAM AJA - VP CUSTOMER OPERATIONS PANACEA TECHNOLOGIES INC.
  12. 12. MOTIVATION FACTORS BEHIND BUILDING IIOT SOLUTIONS 57% GAIN COMPETITIVE ADVANTAGE 36% 13% 11% 6% GROWTH AGILITY COMPLIANCE REDUCED COSTS
  13. 13. SATISFACTION LEVEL WITH CURRENT IIOT SOLUTIONS 0 10 20 30 40 50 Satisfied Very Satisfied No clear results Neutral Dissatisfied VeryDissatisfied 19% respondents seem to be very satisfied with their current IIoT solutions while 9% are fairly dissatisfied. Almost 17% people said they don't see any clear results as of now. While 42% respondents are happy with existing IIoT solutions. 
  14. 14. C O N N E C T I V I T Y B E T W E E N P R O D U C T S / M A C H I N E S4 2 % S K I L L E D H U M A N R E S O U R C E 2 7 % I T ’ S T O O E A R L Y T O I D E N T I F Y G A P S8 % C O N T R I B U T I O N T O R E V E N U E G E N E R A T I O N7 1 % 1 4 % M O R E A T T R A C T I V E A N D F U N T O U S E S O L U T I O N S3 7 % T E C H N O L O G Y U P G R A D E AREAS OF IMPROVEMENT IN CURRENT IIOT SOLUTIONS Majority of respondents (71%) believe that IIoT solutions need better alignment with revenue generation. Also, 42% people said they need better internal connectivity between their machines. Almost 37% companies admitted that their system needs a technology upgrade. Human resource training is lacking in 27% of the cases.
  15. 15. WHICH BUSINESS AREA(S) ARE YOU BUILDING YOUR IIOT SOLUTION FOR? TIME MONEY SAFETY 0 15 30 45 60 O perations Engineering M aintenance Logistics Facility M gm t. IT PeopleM onitoring Training Operations(57%), Engineering(43%) and Maintenance(41%) came out to be the top areas to build IIoT solutions for, followed by Logistics(38%), Facility Management(29%) and other domains such as IT, People Monitoring and Training. 
  16. 16. TECHNOLOGIES USED TO BUILD IIOT SOLUTIONS Wireless sensors seem to rule the Industrial IoT world with 64% respondents saying they have used smart sensors for their IIoT solutions followed by M2M technologies (57%), Machine Learning (44%), Cloud Computing (43%),  BLE (28%) and other technologies.  0% 14% 28% 42% 56% 70% W ireless Sensors M 2M M achine Learning C loud C om puting BLE R obotics W earables AR /VR Sm artBuilding
  17. 17. Wireless Sensors M2M Cloud Computing Machine  Learning Bluetooth Low Energy (BLE)  MOST POPULAR IIOT TECHNOLOGIES
  18. 18. I SEE DATA AND ANALYTICS, EDGE COMPUTING, MACHINE LEARNING, DEEP LEARNING AND OTHER IIOT PLATFORMS AS EMERGING IIOT TRENDS FOR NEXT 5 YEARS SHAMIK DASGUPTA - IIOT PLATFORMS LEADER HONEYWELL
  19. 19. INDUSTRIES THAT ARE BENEFITING THE MOST FROM IIOT SOLUTIONS.. Automotive Oil & Gas Petrochemical Logistics  Mining & Metals Aerospace Pharma Manufacturing Sensors 67% 58% 57% 51% 48% 46% 43% 42% 34% Hardware
  20. 20. Consumer Electronics Consumer Durables Consumer Goods Electric Power Food and Beverage Software Field Service Industrial Machines31% 29% 27% 22% 20% 18% 14% 7% INDUSTRIES THAT ARE BENEFITING THE MOST FROM IIOT SOLUTIONS ?
  21. 21. FUTURE INDUSTRIES WILL BE ABLE TO LEVERAGE TOMORROW’S TECHNOLOGIES FAR FASTER THAN ANYTHING TODAY. IT IS A GREAT POSSIBILITY THAT ENTIRELY NEW INDUSTRIES WILL BE LAUNCHED IN NEAR FUTURE. WHICH MIGHT INCLUDE ASTEROID MINING,CRYPTOCURRENCY, INSTANT LEARNING, CURE FOR HUMAN AGING, HUMAN CLONING OR 3D PRINTED BODIES, ARTIFICIAL INTELLIGENCE ETC. THOMAS FREY- FUTURIST SPEAKER, FOUNDER AND EXECUTIVE DIRECTOR DAVINCI INSTITUTE
  22. 22. 80% IIoT Solution providers are focused on increasing their market share 74% respondents said they are working on creating New services based on smart connected products 67% IIoT solution providers are focused on building a quality industry network CURRENT FOCUS OF IIOT SOLUTION PROVIDERS 
  23. 23. TYPICAL SIZE OF IIOT PROJECTS upto $50K 17% $50K-$100K 47% $100K-$1M 30% $1M+ 6%
  24. 24. IN COMING TIMES, BLUETOOTH LOW ENERGY WILL EXPAND INTO SENSORS, LOCATION WILL BE USED AS A KEY DATA POINT AND WE WILL WITNESS MORE EFFECTIVE PARTNERSHIPS BETWEEN DIFFERENT PLAYERS (INTEGRATORS, TECHNOLOGY PROVIDERS, SOLUTION PROVIDERS) STEFFEN VON BUENAU - PRODUCT-MARKET STRATEGIST KONTAKT.IO
  25. 25. SUMMARY THE NEED WHAT DOES ALL THIS MEAN ?  Companies that move fast to tackle the necessary transformation today will position themselves as future leaders in their markets. And IIoT is at the core of this transformation.  THE CATALYST Rise of Smart Sensors, Robotics & Automation, Augmented/Virtual reality, Big Data Analytics etc. along with favorable government policies are major drivers for IIoT. THE RESTRAINT Poor budget allocation, privacy concerns, incompatibility of existing systems along with technology illiteracy  are anticipated to restrain the growth of IIoT. 
  26. 26. BIG Thanks To..
  27. 27. BIG Thanks To.. Jim Hirsch - VP NA Industrial IoT, Wind River, Division of Intel IoTG Shamik Dasgupta - IIoT Platforms Leader, Honeywell Steffen von Buenau - Product-Market Strategist, Kontakt.io Aaron Salow - CEO, XOEye Technologies Andy Lowery - CEO, RealWear William Aja - VP Customer Operations, Panacea Technologies Inc. Michael W. Wellman - CEO, Virgil Security, Inc.
  28. 28. BIG Thanks To.. Morgan Abraham - CEO, UGo Smoothies Jaime Athos - President & CEO, Tofurky Gary Nija - CEO, Green and Grow Pete Hinzy - VP, Prater Industries Michael Pereira - Partner, Resogen Robert Vogt - CTO, Voyomotive Craig A. Atkins - Chief Architect, General Motors Alfredo Cartagena - Sr. Manager Infrastructure, Karma Automotive Inc Travis Yeomans - BDM, NationaLease
  29. 29. BIG Thanks To.. Jennifer Mackey - Sr Director Logsitics Services, Odyssey Jeremy Cowperwaite  - Fluidic energy Maarten Ectors - Chief Digital Officer - GI, Legal & General Shane Saunderson - Vice President, IC/things, Idea Couture Inc. Erik Walenza - CEO, IoT ONE Merwan benhabib - VP Engg., Ondavia, Inc
  30. 30. DISCLAIMER COPYRIGHT © 2017 MINDBOWER INFO SOLUTIONS & 'THE IOT MAGAZINE' FEEL FREE TO USE THE DATA FROM THIS STUDY WHEREVER YOU FIND IT SUITABLE. JUST PROVIDE REFERENCE TO THE ORIGINAL REPORT WHERE THE CREDIT IS DUE.

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