Potential for Savings and Revenues
Posted on July 2018
The Industrial Internet of Things (IIoT) entails broad distribution of sensors transmitting data on the operation of various equipment and devices to applications, for further analysis and processing. Based on the information received, the enterprise’s employees or automated systems make management-related decisions, including those adopted in real time. This approach significantly increases the efficiency of the production processes. Therefore, IIoT projects are becoming more massive and large-scale both in Russia and in other countries, while their implementation faces a number of challenges, including technical issues.
According to the results of a survey, the aggregate value of this market in Russia currently stands at RUB 20.813 billion, and it is expected to increase to RUB 30 billion by the year 2020, with an average annual growth rate of approximately 12% per year. Estimating the proportion of costs required to implement IoT solutions as part of total IT costs, researchers have noted that representatives of the transportation industry make the heaviest investment in these technologies (16%). IoT accounts for up to 4% in smart building solutions; 2.5% in industrial enterprises; 2% in agriculture; 1.6% in retail, while the financial sector closes the ranking at just 1%.
The Executive Director of Infotech Group Dmitry Bondar shared his experience in implementing IIoT projects at large industrial enterprises with ComNews (Standard magazine, issue 185) and talked about the services that enterprises expect to receive from vendors.