Ubisense Researches Manufacturers’ Understanding of IoT
A recent report conducted by Ubisense has provided insight into the use of the internet of things (IoT) in manufacturing.
It has become apparent that some manufacturers are yet to realise the true potential of IoT as an asset to their operations.
“The report highlights short-term disillusion rather than long-term disinterest,” says Steven Manifold, chief marketing officer at Ubisense.
“Sadly, global manufacturers failed to trust IoT’s potential at a time when they needed it most. And that is for IoT solutions providers to fix with real, proven examples of where IoT works best so that this lost year doesn’t turn into a much longer-term lost opportunity for manufacturing.”
The report also looks at reasons why some manufacturers have not yet adopted a strategy that utilises IoT.
“Too often, IoT is positioned as a futuristic promise somewhere on the digital horizon, and for many, this just doesn’t resonate with their current, very real challenges when it comes to assembly processes,” says Manifold.
Ubisense’s research shows that “43% of manufacturers reveal they don’t understand the value it brings to assembly operation.”
Overall, roughly a third of manufacturers say their running capacity has decreased over the past year, which may have been affected by the inability of IoT to make a “transition from intention to adoption in 2020.”
The study also shows an unusual correlation between the percentage of manufacturers that wish they could improve their processes and those that see the value in the IoT.
“[Despite] 74% of respondents agreeing that they would like to see reduced cycle times in their assembly processes, fewer decision-makers are seeing the link between IoT and this competitive advantage,” says Ubisense.
“Only 63% make that connection now, compared to 70% a year previously, and a similar downward trend was seen across other proposed benefits too.”
Some companies have expressed disinterest in IoT, believing it is unlikely to provide a significant ROI or feeling their processes are too unique for an IoT solution.
However, almost half of manufacturers feel they are missing out on an IoT solution, from which other companies are benefitting, which may suggest a larger uptake of IoT in the future.