The number of connected devices is growing exponentially. In fact, currentestimatesfrom IDC Research predict IoT spending will reach $1.29 trillion by 2020. Although many of these are consumer devices (such as Fitbits or smartphones), the presence of IoT devices in industrial settings is skyrocketing as well, with manufacturing forecasted to be the industry making the largest investment in IoT. With this increased connectivity, the Industrial Internet of Things (IIoT) offers exciting possibilities for transforming many different industries – from industrial automation and manufacturing, to oil & gas and building security. By utilizing the IIoT, industrial companies can leverage technologies like big data analytics to optimize operations, improve efficiency and generate insights that can increase profitability and competitive advantage.
Although many industrial companies may envision an IIoT-enabled future, the reality is that most are still struggling with how to make the transition given they are still dependent on their legacy infrastructure. John Fryer, senior director of industry solutions forStratus Technologies, has outlined five things industrial companies should be thinking about in terms of IIoT readiness in order to overcome the barriers to making the transition.