Eighty Percent of Executives Managing IoT and AR Strategies Expect Them to Become Industry Standard Within Five Years: Report

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  • It further showed that fifty percent of survey respondents have already demonstrated the value of using IoT and AR
  • The report looked at the value of IoT-AR solutions across more than 30 industrial, design, device management, organizational structure, and investment return use cases
Image for representation (Pic credit -queensu.ca)

Eighty per cent of executives managing IoT and AR strategies except the technology to become industry standard within five years as per a report published by PTC and Boston Consulting Group (BCG). The report titled “Unleashing the Power of Data with IoT and Augmented Reality” surveyed more than 200 executives from companies using Internet of Things (IoT) and/or augmented reality (AR) solutions. It further showed that fifty percent of survey respondents have already demonstrated the value of using IoT and AR,

Jim Heppelmann, president and CEO, PTC said, “We are pleased to see how early IoT adopters are now implementing AR solutions to capture more value, and we look forward to continuing to help our customers on the progression of their digital transformation initiatives.”

IoT-AR solutions

The report looked at the value of IoT-AR solutions across more than 30 industrial, design, device management, organizational structure, and investment return use cases. It also provided an in-depth analysis of both a service parts repair scenario and a warehouse setting. It displayed how a combined IoT-AR solution can augment, enhance, and revolutionise process management.

Zia Yusuf, managing director and senior partner of Internet of Things projects, BCG said, “This report provides a full-scale look at the benefits that can be derived from IoT-AR integration. We believe that the results of our survey and the findings of the report make clear that the integration of both technologies is crucial to achieving success in this highly digitized environment.”