IIoT adoption has largely been centered on pre-packaged IoT solutions that solve a specific use case. Earlier IIoT predictions had manufacturing companies building out many of their own solutions from these various platforms and components, however this hasn’t been the case. According to a report from Credit Suisse’s Industrials Equity Research team, pure-play IIoT technology providers only generated $471 million in revenue in 2020. Surprisingly enough, it appears to be the traditional IT and OT solutions that will capture over $10 billion this year from IIoT apps. The article that follows provides more details on the research as well as a offering a good perspective on the fusion of IT , OT and IIoT digital transformation solutions.
Following four years of research and interviews with leaders in the industrial IoT (IIoT) space, Cambashi has settled on nine ‘verticals’, or ‘connected market areas’ for IIoT applications. These are: buildings, cities, infrastructure, products, production, supply chain, transportation, and workers.
Although the internet is often involved in connecting these applications, it is important to note that is not always true – as in the case of production control systems within a factory. We have since combined our insights with those of Credit Suisse, which addresses the IIoT market from an investor perspective, to extend and publish aspects of our ongoing research.
In this paper we focus on four trends we have so far observed. These are as follow: manufacturing companies will look to their enterprise providers for IIoT solutions; industrial companies will move into the software business using IoT technology; IoT systems will be used as a catalyst for ‘digital transformation’; and there will, invariably, be consolidation amongst the IoT providers
