The transition to IoT (Internet of Things) is well under way for global manufacturers according to the findings of a recent survey by Infor, a leading provider of beautiful business applications specialised by industry and built for the cloud. In fact, 10 per cent of manufacturers claim they already have an established IoT project under way, with 22 per cent either running a pilot or planning a project within the next 12 months. Well over a third (38 per cent) claim to be investigating its potential. The research, which polled manufacturers across 12 different countries, including North America, UK, Germany, France, Italy, China and India, also reveals that IoT is the single biggest business priority for one in ten manufacturers across the world right now, with 28 per cent putting it in their top three. The benefits of IoT are well documented, with new revenue opportunities based on the monetisation of information billed as one of the most exciting. However, it seems the majority (55 per cent) of the manufacturers polled as part of the research view cost savings from greater operational efficiencies as the greatest opportunity associated with the initiative, with a third envisaging competitive advantage through additional revenue from new services. "Manufacturers, challenged by the constant need to improve productivity, see the competitive advantage available to them through exploiting IoT technologies," said Andrew Kinder, VP Industry & Solution Strategy at Infor.-business@khaleejtimes.com
Inspired by the constant need to improve productivity , up to 10 % of manufacturers across 12 different countries including USA , China and the UK are now using the Internet of Things ( IoT ) to create better connected enterprises and gain a competitive advantage in the global market , according to Infor , the New York based multinational software company . The research suggests that 55 % of manufacturers see the IoT as the best solution for meeting their single biggest business need , which is to generate greater operational efficiencies , whilst striving to obtain new revenue streams from such things as the monetisation of information . In practice , 22 % of manufacturers are now either running a pilot or planning an IoT - related project , with well over a third ( 38 % ) claiming to be investigating its potential for the future .