The Industrial Internet of Things, also known as IIoT, is an emerging technology field that can boost innovation, improve business processes, create new business models, and provide better customer experiences. The IIoT market is expected to cap USD 1.1 Tn by 2028 at a CAGR of 22.8%, demonstrating its growth potential. Therefore, manufacturers who would like to have a pie of this promising industry must look forward to integrating IoT in their organization to build products and provide services to take advantage of its potential.

However, despite having an ideal environment with significantly low running costs, better connectivity, and much-improved platform management, only a handful of manufacturers have successfully integrated IIoT to reap any organizational or financial benefits. Often organizational and technological challenges are to be blamed for this. This blog briefly discusses the challenges of IIoT, its usefulness in the manufacturing plants and explores how to scale IoT successfully.

According to the research done by McKinsey & Company, successful IIoT enablement at scale requires companies to focus on three areas.

Business

On the business side, the first step is to identify the use cases of IoT and then prioritize and pilot. Then comes the strategic plan to roll out the strategy across different business areas.

While implementing use cases, the business should consider its financial impact and ease of implementation. It should also take into account its replication across different plans. The McKinsey & Company suggests an overarching lighthouse use case that can be replicated and easily implemented across all the plants as an ideal place to start.