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Growth Opportunities of IIoT in Small and Medium Scale Enterprises

  • Report

  • 46 Pages
  • December 2020
  • Region: Global
  • Frost & Sullivan
  • ID: 5262074

Data Communications and Connectivity Between Devices Encouraging Adoption of IIoT

IIoT (Industrial Internet-of-Things), came into reality during the advent of Industry 4.0. The technology provided immense data communications and connectivity between all devices.

The fourth industrial revolution changed the whole manufacturing spectrum. The technology helped manufacturers to tremendously increase their efficiency and productivity. Small and medium-sized enterprises (SMEs) are faced with the challenge of adopting new technologies and manufacturing techniques due to the lack of technology knowledge, high implementation cost and uncertainty on return on investment. These hindrances have prevented SMEs from adopting any emerging technologies.

Smart devices, sensors and Industrial Internet of Things (IIoT) software solutions are the main fundamentals of achieving smart manufacturing and Industry 4.0. SMEs will have to start deploying these edge solutions for integrating and adoption of IIoT technology. The main reason for adoption of IIoT solutions is for driving growth through improved products, increasing manufacturing efficiency, providing high-standard customer services and focusing on planning more efficient factory operational management capabilities.

Topics covered in this report include:

  • Technology Overview
  • Application Landscape
  • Impact Assessment of IIoT on SMEs
  • Emerging Revenue & Business Models
  • Companies to Action
  • Industry Initiatives
  • Growth Opportunities
  • Key Contacts

Table of Contents

Chapter 1 - Strategic Imperatives
1.1 The Strategic Imperative 8™
1.2 The Impact of the Top Three Strategic Imperatives on the Opportunities for IIoT in Small and Medium Enterprises
1.3 About the Growth Pipeline Engine™
1.4 Growth Opportunities Fuel the Growth Pipeline Engine™
1.5 Research Process & Methodology

Chapter 2 - Technology Overview
2.1 Increased Production Efficiency and Reduced Manufacturing Errors are the Main Factors Driving Adoption of IIoT Solutions
2.2 Small- and Medium-Scale SMEs Should Increase Their Expertise for Adoption of IIoT Technologies
2.3 Evolution of IIoT Technologies is Expected to Tremendously Increase in the Coming Years

Chapter 3 - Application Landscape
3.1 Mobility and Industrial Manufacturing Sectors are Highest Adopters of IIoT Solutions
3.2 The Market Share of Mobility Industry With Respect to Adoption of IIoT Solutions is Anticipated to Increase in the Next Few Years

Chapter 4 - Impact Assessment of IIoT on SMEs
4.1 The Lack of Funding and Technology Expertise is Hindering the Adoption of IIoT Solutions in Small-Scale Enterprises
4.2 Compromising on Asset Performance Management Can Reduce the Impact of IIoT Solutions on the Supply Chain

Chapter 5 - Emerging Revenue & Business Models
5.1 Precise Data Gathering is Crucial for Service Providers in the DaaS Business Model
5.2 SMEs and Enterprises Should Leverage Insights for Improving Business Productivity
5.3 IIoT Platforms are Powered by Proprietary Algorithms Specially Developed to Cater to Industry Requirements

Chapter 6 - Companies to Action
6.1 Armis Security, USA
6.2 Threat Detection in IoT Devices
6.3 Bastille Networks Internet Security, USA
6.4 Security and Threat Detection for IoT Solutions

Chapter 7 - Industry Initiatives
7.1 Development of Cyber-Security Solution and Reducing the Pricing of IIoT Solutions is of Utmost Importance
7.2 Sensor Driven Analytics is the Key for Increasing IIoT Performance in Enterprises
7.3 Further Development of IIoT Solution is Crucial for Achieving Industry 4.0 and Smart Factories

Chapter 8 - Growth Opportunities
8.1 Growth Opportunity 1: R&D Investment for Technological Innovation, 2020 - IIoT Impact on Small SMEs and Enterprises

Chapter 9 - Key Contacts

Chapter 10 - Next Steps
10.1 Your Next Steps

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Armis Security
  • Bastille Networks Internet Security