The US manufacturing sector continues to face a challenging operating environment due to consistent competitive pressures from both domestic and offshore sources, volatility in labor and material costs, and changing environmental regulations. An increasing number of manufacturing organizations are turning to advanced operational technology (OT) as well as information technology (IT), including Internet of Things (IoT)-based hardware, software, and services solutions to help address the complex strategic and tactical challenges.
IoT-based solutions aim at helping manufacturing organizations enhance product quality, identify new business opportunities, and curtail operational inefficiencies. The full benefits of IoT are likely to be realized when various components of the value chain are onboard—this ranges from factory shop floor equipment, materials, and processes to transportation and logistics functions.
This study analyzes attitudes toward, adoption, and usage of IoT technology in the US manufacturing sector.
· The research is based on a survey of 150 small, mid-sized, and large manufacturing organizations within the US.
· Survey sample comprises respondents across discrete and process manufacturing.
· An overview of the manufacturing sector, various challenges faced by manufacturing organizations, and their approach to addressing IoT issues is
· Highlights include manufacturing firms’ assessment of their overall revenue and profitability growth as well as their operating cost structures.
· Manufacturing firms’ adoption and experiences and concerns with IoT solutions as well as the IoT vendors are covered.
· A forecast for cellular IoT connections within the IoT solutions for manufacturing sector from 2014 to 2023 is provided.
This growth insight highlights various end-user trends specifically related to manufacturing-focused IoT solutions. In addition, it provides an overview of the IoT vendor landscape that ranges from hardware vendors to advanced IoT software providers. Growth opportunities for IoT solutions within manufacturing are analyzed across a range of areas including supply chain management, logistics, plants/facilities, and other operational processes. Moreover, the analysis offers some high-level strategic recommendations for IoT vendors that are targeting the manufacturing sector.
Key Questions This Research Will Answer
· What is the overall adoption scenario of IoT across discrete and process manufacturing industries? What are the differences in IoT adoption based on firm size?
· Which operational areas within manufacturing have already deployed IoT?
· Where will the growth opportunity be for IoT vendors in the next 12 to 24 months?
· How is the overall spending on IoT likely to change over the next 12 to 24 months?
· How successful/unsuccessful have manufacturing organizations been in accomplishing their post-deployment objectives from IoT solutions?