IoT Growing Fast in Transportation; Oil and Gas, Survey Finds
A new survey of manufacturing; oil and gas as well as transportation industry executives suggests internet of things adoption has been especially rapid in the transportation and oil and gas industries.
The internet of things is not actually new in the manufacturing industry. Industrial and transportation firms in 2017 already support more than three billion devices. About 87 percent of respondents to a survey sponsored by BSquare report already using the internet of things.
Of particular importance for mobile service providers are the transportation use cases. Some 93 percent of transportation industry executives reported having an IoT application in use. In substantial part, that is because industry regulations now require emissions and electronic logging reports.
A few use cases are widespread, including device connectivity and simple data forwarding, in use by 88 percent of respondents. Some 66 percent say real-time dashboards and monitored activity are in use. Advanced analytics, such as machine learning, cluster analysis, and artificial intelligence, from data scientists are used by half of respondents.
Fully 63 percent of respondents in the transportation industry say they implemented an IIoT application within the last year. Likewise, some 66 percent of oil and gas industry say they have implemented IIoT within the past year.
Only about 33 percent of manufacturing industry respondents said they had implemented within the past year.
Other business problems IoT is expected to assist with include vehicle performance, cited as an objective by 95 percent of respondents; logistics use cases, cited by 65 percent of respondents and lower operating costs, an objective for 23 percent of respondents.
“Gaining better visibility into and control over business-critical equipment” is a top objective for respondents. More than 90 percent of adopters say device health was a driver for industrial internet of things adoption, including real-time device information, better device management, and device optimization.
Some 67 percent said logistics was an objective, operating cost reduction (24 percent) and increased production volume and better compliance (18 percent) also being desired outcomes.
As you would guess, some 78 percent of respondents of decision-makers and influencers in the manufacturing, oil and gas, and transportation industries report using internet of things in the sense of devices connected and sending data to controllers and servers.
About 56 percent say they use IoT for real-time dashboards and monitoring. Some 46 percent use machine learning, cluster analysis, artificial intelligence or advanced analytics.
Connected devices in the industrial segment are predicted to grow to more than 7.5 billion by 2020.