Manufacturers leverage IIoT platforms for better ROI
High rate of stalled and failed industrial IoT initiatives account for an immense 70% investment loss and continues to reflect how industrial IoT solutions remain complicated, expensive, and risky. Companies turn to IIoT platforms that will reduce development costs by 30%-40% with simulation tools, virtual prototyping applications and connected systems to identify errors and control costs. Interoperability is key for manufacturing that can be enabled by a robust IIoT platform that holds capabilities such as secure device management, data management, analytics, and data sharing on a product and solution level.
Urbano Agroindustrial, an agricultural company realized a 30% reduction in costs with better planning and less overtime by leveraging IBM Watson to develop a smart grain control system that uses sensors to capture silo volume data. Manufacturers leveraging IoT platforms are eyeing for ROI in accelerating innovation, reducing time to market, reducing development and supplier costs.
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