In a previous article on VALVE, we queried if results were matching the hype for manufacturers adopting the Industrial Internet of Things—also known as Industry 4.0. For those who have dedicated sufficient resources to making it a success, the technology has made it easier and faster to develop, manufacture and even sell products.
However, many manufacturers, including those who make valves, actuators and controls, have hesitated to embrace the IIoT. Deloitte did several studies over 2017 and found that 45% of the surveyed executives feel that the biggest issue in beginning a digital pilot is an overall roadmap. They don’t know where to start, where to invest and when to do it. In that same Deloitte survey, 92% of CEOs responding believed that their organizations are not correctly structured to operate in this new environment and only 11% of survey correspondents believed their current talent pool can compete in the space being created by the IIoT.1