The Industrial Internet of Thing (IIOT) is set to revolutionise how industries function in the coming years. Although a third of businesses are struggling with connectivity issues to fully deploy Industrial IoT across the global supply chain, results from the 2018 edition of Inmarsat’s research programme into IIoT trends shows an optimistic future.
‘IIoT on Land and at Sea’ – which was summarised by market research specialist Vanson Bourne surveyed 750 businesses with a combined turnover of $1.16trillion from across the globe.
New face of industries
The Industrial Internet of Things (IIoT) is set to make a sizeable contribution to the global economy by 2023.
This is inline with a new global study is launched by Inmarsat (LSE:ISAT.L), the world’s leading mobile satellite communications company, which found that organisations, across the global supply chain might use IIoT to increase their annual revenues by 10 per cent within 5 years.
The major range of industries, includes agriculture, energy, maritime, mining and transport sectors.
Use Inmarsat
Satellite communications, will be essential to the success of many IIoT deployments where access to reliable and resilient connectivity, particularly in remote regions or at sea from terrestrial networks are not available.
Commenting on the findings, Paul Gudonis, President, Inmarsat Enterprise, said: “IIoT is emerging as a major force in the modern enterprise and it’s clear that businesses are prioritising satellite technology to transform their operations and achieve competitive advantage. Data generated by IIoT infrastructure is expected particularly to bring greater transparency to the global supply chain, allowing businesses to automate processes, reduce operational waste and speed up rate of production, leading to higher revenues and lower costs”.
“However, many businesses are struggling with security, skills and connectivity challenges in large scale IIoT deployments. Over half (56 per cent) require additional cyber-security skills and 34 per cent don’t yet have access to the connectivity they need. For global businesses that require a global communications network, satellite connectivity will play a key role, guaranteeing constant secure data transmission wherever their IIoT infrastructure is located,” he concluded.
Inmarsat is the leading provider of mobile satellite connectivity to IIoT deployments across the global supply chain. Our services are enabling end-to-end transparency across the production, extraction, manufacture and multi-modal transportation of goods, delivering operational efficiencies to organisations from the agriculture, energy, maritime, mining and transport sectors.
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