Recently, Microsoft and IoT Analytics jointly released the latest IoT signal report "Digital Operational Signals— Industrial IoT Solutions in Focus ". This digital operation report hopes to reveal the latest judgments and consensus on the Industrial Internet of Things, and encourage the application of these findings to actual projects of the Industrial Internet of Things to accelerate the realization of project value.
Through research and interviews with 300 global decision makers mainly engaged in manufacturing, energy, construction and other related industries, these executives are all from companies that implement or are implementing the Industrial Internet of Things, and form a special report on IIoT solutions for the Industrial Internet of Things .
The Industrial Internet of Things has crossed the chasm
In 2017, Cisco’s research concluded that 75% of IoT projects have failed; in 2018, McKinsey mentioned that the implementation and digital transformation of industrial IoT projects are struggling in “pilot purgatory” and trapped in a “gap”.
The theory of crossing the gap proposed by Jeffery Moore refers to the biggest obstacle encountered by high-tech products in the process of market practice: there is a huge gap between the early market of high-tech companies and the mainstream market , whether they can successfully cross the gap and enter the mainstream In the market, winning the support of pragmatists determines the success or failure of a high-tech product.
Industrial Internet of Things crosses the chasm and becomes mainstream!
At present, 65% of enterprises are implementing the Internet of Things strategy, and the success rate of IIoT projects is 14% higher than that of 5 years ago ; the break-even time of the project is about 20 months , that is, to achieve positive returns within two years; The complexity and challenges associated with data management are reduced by approximately 50%.
More and more businesses are looking to buy off-the-shelf solutions
Today, about 40% of IIoT projects are custom solutions; however, the percentage of projects looking to buy off-the-shelf solutions has increased from 9% to 30% in the past two years; time to breakeven when buying off-the-shelf solutions will be shortened by 40%.
Self-build, buy or integrate, each has advantages and disadvantages
The self-built method can fully provide customized solutions and will not be bound by suppliers; buying ready-made solutions is the most cost-effective, can quickly obtain return on investment, and the risk of project integration is low; taking both, at the same time Using the method of partial self-build and partial outsourcing, mature systems can be combined with customized solutions.
Strong IIoT supplier ecology to accelerate the realization of project value
The industrial IoT supplier ecosystem has been formed, they can provide out-of-the-box solutions, create pre-configured data models and digital twins, and provide a variety of architectural components; these suppliers can also provide specialized technical and business support, And ensure that the system is not vulnerable to security threats.
Budget Constraints Are Gone, Cybersecurity and Awareness Gaps Are Key
Compared with 5 years ago, integrator project implementation challenges have decreased by 30%, and corporate budget shortages have decreased by 13%; at the same time, network security and awareness gaps have become key pain points, and protecting IIoT networks and cloud platforms is considered the top priority Technical issues, talent and knowledge gaps were identified as top operational challenges.
Past recommendation
☞ IDC China 2022 IoT Platform Evaluation Report
☞ IoT Platform Trends in 2022: Privatization
☞ 5 lessons worth sharing about IoT startup failures
☞ Selection and comparison of four domestic IoT platforms
☞ Is the [IoT platform] of cloud vendors not popular?
