The Industrial Internet of Things is quickly gaining popularity among manufacturers, with a third planning to leverage connected devices, sensors, and machinery within the next five years, according to the results of the fourth annual State of Manufacturing Technology survey conducted by Plex Systems, a Troy-based provider of cloud-based manufacturing services.
The number of respondents planning to utilize the Industrial Internet of Things increased 20 percent from last year’s survey. Outside of adoption plans, there was a general increase in confidence in IIoT, with 95 percent believing that it’s not “hype,” a 7- percent increase from 2017.
The response reflects overall market expectations, with the manufacturing industry expected to be the No. 1 industry to capitalize on IIoT, according to the McKinsey Global Institute.
“The IIoT platform space is one of the fastest growing technology markets today,” says Matthew Littlefield, president and principal analyst for LNS Research. “In just a few short years we already see adoption rates at 15 percent with another 23 percent of companies in the pilot phase.”
Other survey findings indicate that automation, integration, and connectivity are among the most-important goals for manufacturers in the next five years, with 60 percent of respondents planning to use technology to enhance plant floor integration and automation; 48 percent intending to increase business process automation; and another third working to both increase plant/enterprise integration and increase supply chain connectivity.
“This study proves that connected manufacturing is the linchpin for leading manufacturers,” says Bill Berutti, CEO of Plex Systems. “The most successful companies are investing in cloud-based systems to manage their operations from end to end, helping them both be more agile in addressing challenges and be prepared to benefit from the connectivity, visibility, and scalability delivered through the Industrial Internet of Things.”
Download the State of Manufacturing Technology report here.