More research argues companies are lagging behind in Industrial IoT readiness

More research argues companies are lagging behind in Industrial IoT readiness IoT News is a practical resource providing news, analysis and opinion on the burgeoning Internet of Things ecosystem, from standardisation, to business use cases, and development opportunities. We take the best research and put our own spin on it, report from the frontline of the industry, as well as feature contributions from companies at the heart of this revolution.

Many organisations are still flat-footed when it comes to the Industrial Internet of Things (IIoT) – despite their executives realising the future of their business depends on it.

That was the verdict from a new report by the Business Performance Innovation Network, titled ‘The Impact of Connectedness on Competitiveness’ and developed in partnership with the CMO Council, Penton’s IoT Institute and The Nerdery from a survey of 350 global executives.

According to the study, large-scale integrators and other channel partners will be among the biggest IIoT beneficiaries over the next several years. They will likely play a significant role in planning and implementation at many companies due to major internal gaps in the technical skills and management know-how needed to deploy and integrate IoT into operations and new products.

The survey found 52% of executives at large enterprises – and 41% of executives at all companies – expect IIoT to have a significant or major impact on their industry within three years. Some 55% of all executives say IIoT is gaining adoption within their industries, including both pilots and larger-scale adoption. Security and data privacy are seen as top concerns by executives, followed by the cost and complexity of IIoT adoption and the need for new management and workforce skills and training.

Making the transformation to IIoT-enabled businesses will clearly require new skills and mindsets. Among those requirements, according to executives, are new technical skills (51%), better data integration and analytics capabilities (41%), and rethinking the business model (33%). Most executives, however, say their companies have significant gaps in these areas. in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.

The show is co-located with the AI & Big Data Expo, Cyber Security & Cloud Expo and Blockchain Expo so you can explore the entire ecosystem in one place.

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