Automated production, integrated end-to-end: transparent, reliable, predictable and efficient. That’s the promise of Industrial Automation, a core component of the Industrial Internet of Things (IIoT)—the vast and self-sustaining digital ecosystem that could be contributing more than US$10 trillion to the global economy by 2030.
Realizing the full potential of Industrial Automation will pose challenges for many companies.
It requires new tools, new skills, new ways of sharing and managing information—and new ways of thinking. That's a big ask for companies that are not digital "natives". And an even bigger one for those that are not organized operationally to network across functions, in collaboration with the start-ups and other digital disruptors whose innovations are powering the Industrial Internet of Things.
Our research suggests that most companies, though keen to take full advantage of the Industrial Internet of Things, still hesitate to do so.
Sensors and control mechanisms are now embedded into most of these industries’ shop-floor machinery. What’s more, such devices are increasingly connected with management, execution, logistics and ERP systems.
As a result, manufacturers have unprecedented visibility into the factory production process. Because they can identify and predict performance bottlenecks, they can improve compliance, boost availability, and minimize waste. They can also pilot new processes more effectively. And they can make smarter decisions about how to manage a significantly more connected and collaborative workforce.