Adoption & Maturation: Advance Beyond Foundational IoT in Oil & Gas Matt Smith Sr. Solutions Architect Bsquare matts@Bsquare.com
Why are companies investing in IoT?
$ Inefficient Non-productive Data utilization operations hurt time is expensive is very low the bottom line
Stages of IIoT Maturity 3 4 1 2 5 DEVICE DATA DATA EDGE AUTOMATION CONNECTIVITY MONITORING ANALYTICS COMPUTING On-board logic to Dashboards and Machine learning Development and Distribution of collect data and visualization tools and complex execution of logic analytics and transmit to cloud to monitor real analytics used to rules that orchestration to databases time data develop device automate business the device level models (digital activities and twins) and insight device configuration Bsquare Industrial IoT Maturity Index
Survey Methodology P Online survey conducted in the US between Aug 15 and Sept 1 P Companies with annual revenues of more than $250M for transportation/manufacturing, and $400M for O&G P 310 respondents with operations or line of business titles P More than 80% have decision-making or influence regarding IIoT Bsquare Industrial IoT Maturity Index
“ 86% of industrial organizations have adopted IoT, yet fewer than half are using advanced analytics and only a quarter ” have taken steps to automate the application of insights. Bsquare Industrial IoT Maturity Index
IoT Maturity Survey 84% 96% Transportation consider their IIoT 84% Manufacturing solutions to be 73% Oil and Gas extremely/very effective Bsquare Industrial IoT Maturity Index
Current IIoT Adoption: Oil & Gas Currently have an Plan to implement an 84% 10% IIoT solution in place IIoT solution this year 26% 77% 63% have used IIoT for indicated their solutions are very or established their IIoT solution 12 months or more somewhat important for their company in the past 12 months Bsquare Industrial IoT Maturity Index
IIoT Maturity IIoT Use (by % of responses) Model Device connectivity and simple data forwarding Least 76% Mature IIoT Use in Oil & Gas Real-time dashboard and monitored activity through constant data stream 49% Advanced analytics, such as machine learning, cluster analysis, and artificial intelligence, from data scientists 46% Automated simple, single-step actions such as service-ticket requests Highest 27% IIoT ROI Data processing on (or very close to) connected equipment, in addition to functions performed in gateways or in the cloud Most 7% Mature 74% decrease Bsquare Industrial IoT Maturity Index Bsquare Industrial IoT Maturity Index
IIoT Maturity IIoT Use (by % of responses) Device connectivity and simple data forwarding Model Least 78% Mature IIoT Use Compared to Other Real-time dashboard and monitored activity through constant data stream Industries 56% Advanced analytics, such as machine learning, cluster analysis, and artificial intelligence, from data scientists 48% Automated simple, single-step actions such as service-ticket requests Most 28% Highest Mature IIoT ROI 42% decrease Overall Average Transportation Manufacturing Oil and Gas Bsquare Industrial IoT Maturity Index
Top Business Challenge in Oil & Gas Enhancing Operations Performance with IIoT Organizational Performance Improvement: 73% 13% Significant consider their IIoT 73% A Fair Amount z solutions to be extremely/very 14% A Little effective Bsquare Industrial IoT Maturity Index
Other Top Business Challenges in Oil & Gas Machine health, including 95% predictive failure 76% Device connectivity 27% Automated actions Bsquare Industrial IoT Maturity Index
Top Business Challenges Current adopters cite these top business challenges targeted by IIoT solutions: Transportation Manufacturing 95% Vehicle performance 95% Logistics (including factory floor) 82% Machine health 65% Logistics 34% Operating costs 23% Operating costs Bsquare Industrial IoT Maturity Index
This Year’s Business Challenges Business challenges next on the docket include: 71% 24% 24% Orchestrating single-step Orchestrating complex actions Historical data analysis actions (such as service across multiple systems (such ticket requests) as equipment inventory) Bsquare Industrial IoT Maturity Index
Top Business Challenges Current adopters cite these top business challenges targeted by IIoT solutions: Transportation Manufacturing Orchestrating complex actions Orchestrating single-step actions 24% 29% across multiple systems (such as (such as service ticket requests) equipment to inventory) Bsquare Industrial IoT Maturity Index
Oil & Gas IIoT Future View The Future of IIoT is Bright for Oil & Gas Businesses In the next 12 months… 56% 41% Investment will increase Investment will not change (such as service ticket (71% of IIoT adopters have requests) less than 50% of deployed devices IIoT-enabled) Bsquare Industrial IoT Maturity Index
Bsquare 2017 Annual IIoT Maturity Survey: http://ow.ly/tWCi30gtmmD
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