When it comes to the Industrial Internet of Things (IIoT) and digital transformation, many industrial companies are already in the process of developing or refining their strategies. The hype around IIoT in 2017 brought about numerous successful implementations, and by 2018, businesses focusing on digital transformation or IIoT adoption were expected to expand into three key areas.
According to Matthew Littlefield, president and principal analyst at LNS Research, a leading market research firm, operational excellence is set to spark a new wave of innovation. While much of the previous IIoT excitement centered on assets and data, the next phase will emphasize people, processes, and the integration of proven methodologies like Lean and Six Sigma with digital tools. This shift promises to unlock greater value in manufacturing environments.
Companies are expected to significantly boost operational efficiency by leveraging advanced technologies such as predictive analytics, augmented reality (AR), virtual reality (VR), and digital twin solutions. These innovations won’t just be temporary trends—they will become more refined and accelerate in development compared to earlier generations.
In 2018, enterprises are projected to fully embrace IIoT platforms, but the real success will depend on easy-to-deploy and user-friendly applications that deliver quick value. With companies like Enel and Caterpillar Progress Rail achieving success with enterprise-wide IIoT platforms in 2017, platform providers can expect increased adoption across industries.
However, Littlefield suggests there won’t be a single dominant platform architecture. Most industrial firms will likely use multiple platforms tailored to different use cases. Internal and cloud connectivity is becoming more viable, and this trend is expected to grow rapidly.
Looking ahead, edge computing and cloud computing will see unprecedented growth in 2018. Rather than competing, these two technologies will work in tandem. As vendors and end users gain a better understanding of how bandwidth, latency, and security influence where analysis should occur, both markets will evolve in a complementary way.
Much of this progress stems from emerging startups in the industrial analytics space, which are closer to the data sources than ever before. Their hybrid approach between edge and cloud is driving rapid growth in both markets.
Companies that fail to capitalize on current digital innovations risk falling behind competitors. The hype cycle is over, and it’s time to move beyond theoretical discussions and focus on execution. The digital transformation market has matured, allowing businesses to assess not only their own performance but also that of their peers.
Littlefield emphasizes that companies should take an external perspective rather than relying solely on software vendors or system integrators. While these partners have valuable insights, they may not always act in the best interest of the business. By looking beyond traditional channels, companies can make more informed decisions and stay ahead in the evolving digital landscape.
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