Taking the Pulse of Enterprise IoT

As highlighted in a prior post, McKinsey & Company are a leading provider of insight on enterprise IoT adoption. Their latest report – Taking the pulse of enterprise IoT (July 2017) – summarizes survey results collected from C-level executives across a range of industries:

  • Early adopters have only achieved modest, incremental benefits from their enterprise IoT programs. Few have embarked on large-scale initiatives designed to transform their operations or enable new products and services.
  • Enterprise IoT is poised for strong growth because of its ability to improve customer relationships, increase productivity, and enable the development of innovative products and services.
  • Operational drivers fueling enterprise IoT adoption include improving service operations, increasing operational visibility, and creating new product and service offerings.

We strongly concur with McKinsey’s summary observation that enterprise IoT will yield compelling benefits in manufacturing and service operations. Industrial IoT initiatives will drive strategic outcomes in asset performance management, agile manufacturing, and control room intelligence, while service value chain inefficiencies are ideal targets for digital transformation.