Industrial IoT 2017 Survey: Key Trends and Business Impact – Part 1

In 2017, Mindbowser conducted an in‑depth survey to map the current landscape of Industrial IoT (IIoT) and forecast its future trajectory. The goal was to capture real‑world insights from industry leaders and translate them into actionable trends.

Spanning April to June 2017, we interviewed over 350 professionals across manufacturing, agriculture, industrial machinery, logistics, aerospace, chemicals, oil & gas, consumer goods, and electric power. According to Ayush Jain, CEO of Mindbowser, this data set provides a robust snapshot of the sector’s readiness and challenges.

This survey was carried out by Mindbowser. Download the full report here.

Key Findings

1. Industry Readiness for IoT

Companies recognize the strategic value of IIoT. 64% of respondents are either actively working on or planning an IoT initiative within the next year. The remaining 36% have no immediate plans, yet 83% of them still see the need to boost machine efficiency.

2. Major Barriers to Successful IIoT Adoption

Despite widespread awareness, only a handful of firms have embraced IIoT. Our analysis uncovered a range of obstacles:

• Limited Budget – 63% cite insufficient capital to fund IoT projects.
• Uncertain ROI – Many enterprises demand clear return on investment before committing to high‑cost initiatives.
• Legacy Equipment – Older machinery often lacks the connectivity required for modern IoT solutions.
• Lack of Clear Strategy – A visionary roadmap is essential; its absence remains a top deterrent.
• Time Constraints – Operational priorities leave little room for new, resource‑intensive projects.
• No Immediate Need – 10% of firms feel there is no business requirement for IoT at present.

3. Drivers Motivating IIoT Implementation

When organizations do choose to invest, the following catalysts emerge:

• Competitive Advantage – Leveraging data mining and analytics unlocks market differentiation.
• Growth Acceleration – IoT fuels digital transformation across manufacturing, supply chain, and service models, driving new revenue streams and superior customer experience.
• Regulatory Compliance – Adhering to industry mandates often mandates IoT capabilities, opening multi‑billion‑dollar opportunities.
• Cost Reduction – By enhancing energy management, predictive maintenance, and process optimization, IoT delivers tangible operational savings.

4. Satisfaction with Current IIoT Solutions

Overall sentiment is mixed: 19% report high satisfaction, 9% express dissatisfaction, 17% see no clear results yet, while 42% are content but seek incremental improvements.

5. Areas for Improvement

Respondents highlight several priorities for enhancing IIoT maturity:

• 71% call for stronger alignment with revenue generation.
• 42% want better internal machine connectivity.
• 37% require a technology refresh.
• 27% note a need for workforce upskilling.

These findings represent the top five trends from our 2017 survey. Part II of the report delves into additional insights shaping the future of Industrial IoT.

The author of this article is Ayush Jain, CEO of Mindbowser.

About the Author

Ayush brings a wealth of experience as an architect and consultant across multiple sectors, specializing in translating complex challenges into elegant, scalable solutions. A seasoned marketer, he stays at the forefront of emerging technology trends.