The industrial Internet of Things (IIoT) is a major part of the “fourth industrial revolution,” but only 26 percent of decision makers have a well articulated digital transformation strategy.
That’s according to a 2017 Survey Report conducted at the Industry of Things World, which surveyed 1,124 decision makers. It found that most knew the importance of IIoT deployment, but were taking a ‘wait-and-see’ approach to the new technology.
The results are similar to other IIoT surveys conducted in the past 12 months.
45 percent of people surveyed said their company did not have a strategy for digital transformation, while 29 percent had only a basic strategy.
Less than a quarter have a comprehensive roadmap
Only 16 percent of people said that their company has a comprehensive roadmap, while 69 percent said they have a modest roadmap. This typically includes a pilot program or consultation with IIoT developers to find out the benefits.
Even with the rather slow move to IIoT, 88 percent of people said the Internet of Things was critical for the future success of their company. The report does not go into the disconnect between a company’s thoughts on the future and their investments. One reason could be the lack of comprehensive strategy from the industrial giants.
IIoT investment could surpass $1 trillion in the next 10 years, and GE Digital anticipates $60 trillion in connected industrial assets by 2030. This huge surge of investment might mean that the company’s only thinking about deployment could be swept by rivals that have a comprehensive strategy for the digital future.