IoT to overtake cloud computing as primary Industry 4.0 technology
Research from Inmarsat has found that investment within the IoT is about to overtake cloud computing and different digital transformation technologies.
The IoT will hardly be thought about as an “emerging technology” anymore. Between 2017 and 2020, IoT investments account for an average of 7% of an organization’s IT budget. Over the following 3 years, businesses expect to extend their IoT budgets to 10%.
Here’s how that compares to planned investment in other Industry 4.0 technologies:
👉 Cloud computing (9%)
👉 Next-generation security (7.5%)
👉 Big data analytics (7.3%)
👉 Robotics (5.3%)
👉 Machine learning (4.8%)
👉 Virtual reality (4.3%)
Mike Carter, president of Inmarsat Enterprise said: “Our latest research reveals IoT is now the primary Industry 4.0 technology in which companies are investing over the next three years.
The new research also reveals that the mainstream adoption of IoT is already making a difference in terms of operational cost-savings to many organizations. Respondents report that IoT projects currently save their organizations 9% of their yearly costs.
With the world’s production and #supply #chains changing into more and more interconnected and digitalized, those corporations #manufacturing digital twins of their offer chains and sharing information, are the ones reaping the advantages.