Industrial IoT to revolutionise how businesses function in the next few years26 July 2018
The Industrial Internet of Things (IIoT) is set to make a sizeable contribution to the global economy and revolutionise how businesses function in the next few years, according to a new global study by mobile satellite communications company Inmarsat.
The report found that organisations, across the global supply chain, expect IIoT to be increasing their annual revenues by 10% within five years.
Inmarsat says that there will be significantly increased automation and operational efficiency through the use of real time data and machine-to-machine communication right across the planet.
Access to reliable and resilient connectivity, particularly in remote regions or at sea, where terrestrial networks are not available but satellite communications are available, will be essential to the success of many IIoT deployments, it adds.
The results have emerged from the 2018 edition of Inmarsat’s research programme into IIoT trends – ‘IIoT on Land and at Sea’.
Comments Inmarsat Enterprise president Paul Gudonis: “IIoT is emerging as a major force in the modern enterprise and it’s clear that businesses are prioritising satellite technology to transform their operations and achieve competitive advantage.
“Data generated by IIoT infrastructure is expected particularly to bring greater transparency to the global supply chain, allowing businesses to automate processes, reduce operational waste and speed up rate of production, leading to higher revenues and lower costs.”
However, Gudonis warns that many businesses are “struggling with security, skills and connectivity challenges in large scale IIoT deployments”, with 56% requiring additional cyber-security skills, while 34% don’t yet have access to the connectivity they need.
“For global businesses that require a global communications network, satellite connectivity will play a key role, guaranteeing constant secure data transmission wherever their IIoT infrastructure is located,” he adds.
The research was carried out by market research specialist Vanson Bourne, which surveyed 750 businesses, with respondents drawn from a wide range of industries, including the agriculture, energy, maritime, mining and transport sectors.
To view the research microsite and download the full report – ‘IIoT on Land and at Sea’ – click here.
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