More than two thirds of the decision makers who have already invested a significant amount in Industrial Internet of Things (IIoT) plan to increase their investment soon, finds new survey
Honeywell has launched a new software solution, called Honeywell Forge, that can help industries collect, analyse and act on the data coming from all parts of their operations
Categorized as Enterprise Performance Management for Operations Technology, the industrial IoT platform is designed to utilise the company’s asset and process control knowhow and combine it with analytics and data.
“Honeywell Forge can provide leaders of complex businesses with the visibility they need to transform their operations quickly and efficiently, at every level and with minimum disruption, enabling users to focus resources on innovation and achieving macro business objectives,” said Que Dallara, President and Chief Executive Officer of Honeywell Connected Enterprise.
Honeywell’s Forge will take data from equipment, processes and people to provide insights to operators of buildings, airlines, industrial facilities and other infrastructure.
Industrial Internet of Things (IIoT) is the future of industry
Seventy percent of C-suite executives and senior decision makers have invested “significant” amounts in IIoT and they want to invest more, revealed a new survey conducted by KRC Research and sponsored by Honeywell.
More than two thirds of those who have already invested a significant amount plan to increase their investment soon, it said.
However, IIoT complexity is hindering investment at many companies. In addition, about 42 percent of decision makers surveyed are concerned that employees will not be able to adapt to IIoT.
9 in 10 decision makers believe IIoT is a good investment
Majority of the decision makers surveyed have already seen improvements from the implementation of Industrial IoT.
According to the survey, 92 percent say IIoT will:
- Make facilities safer and more secure
- Help manage the supply chain to be more efficient and profitable
- Create efficiency in use of resources