Study: 86% of industrial organizations are currently adopting IoT solutions

By WorldOil.com

Nov 21, 2017

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Bsquare, a provider of Industrial Internet of Things (IIoT) solutions, today released the findings from its first annual IIoT Maturity Study, which explores the current IoT adoption progress of business buyers in manufacturing, transportation, and oil and gas (O&G).

According to the 2017 study, 86% of industrial organizations are currently adopting IoT solutions and 84% believe those solutions are very or extremely effective. In addition, 95% believe that IoT has a significant or tremendous impact on their industry. However, the study also shows that most IIoT investments are focused on connectivity (78%) and data visualization (83%). In addition, only 48% are doing advanced analytics on that data and only a small number (28%) are automating the application of insights derived from analytics.

Bsquare’s 2017 Annual IIoT Maturity Study was conducted in the U.S. in August 2017, and reached more than 300 respondents at companies with annual revenues in excess of $250 million. Other highlights from the report include:

  • The vast majority (86%) of organizations are deploying IIoT solutions, led by Construction/Transportation (93%) and followed by O&G (89%) and Manufacturing (77%).
  • Nearly two-thirds (73%) of all businesses plan to increase their IoT investments over the next 12 months, despite almost every respondent acknowledging that IoT deployments are complex.
  • Nine out of 10 decision-makers feel it is very or somewhat important for their organization to adopt IoT solutions. And 95% perceive IoT as having either a significant or tremendous impact on their industry at a global level.

Read the full story.

 

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