According to the latest IDC report, the IoT hype is translating into actual IoT market growth through 2018. The listed Industries expected to spend the most on IoT in the coming year are;
- Manufacturing ($189 billion)
- Transportation ($85 billion)
- Utilities ($73 billion).
There will also be $92 billion spent on cross-industry initiatives, such as connected vehicles and smart buildings.
To anyone who has worked in these industries the report probably won't comes as a surprise, machinery has been sensing and collecting data for decades. Over the last few years, while IoT has become a common buzz word, the only real innovation has been the increasing ease of connectivity and analysis of the data to drive an outcome. At Hitachi, we deliver value-based outcomes with IoT solutions that bring devices, people, infrastructure, and processes together.
But why stop there? At Hitachi Consulting, we are taking this further, applying our commitment to social innovation to reconsider the Internet of Things and transforming it into what it should be: the ‘Internet of Outcomes’. In collaborative creation with our clients and partners, we are already co-creating sustainable business advantages that answer society’s challenges beyond pure IoT.
This is possible because of our 106 years' experience in manufacturing OT (Operational Technology) and 55 years' experience in delivering advanced IT solutions. This pedigree allows us to 'Think Beyond Things' and architect social innovation within the physical and digital world where IoT comes alive.
By way of example, our take on Manufacturing IoT is very wide, encompasses proven customer outcome and success in;
- Water Management
- Asset Monitoring & Maintenance Optimisation
- Optimised Factory
- Smart Logistics and Asset Management
More information on Hitachi's IoT solutions, our industry expertise, and solution offerings can be found here. Whatever your IoT aspirations are in 2018, I strongly recommend partnering with an organisation that understands your business, the value of data as a strategic asset and how IoT can help support a defined outcome.
The world’s getting more connected. According to IDC, spending on the Internet of Things is set to increase by 15% over the next year, reaching $772.5 billion by the end of 2018. And that rise is set to continue. IDC predicts that spending on the technology is set to grow at an annual rate of 14% till the end of 2020.