The collection of technologies known as the Internet of Things has created a stalemate at too many manufacturing companies. While 95% of industry executives in a recent Economist Intelligence Unit survey said they expect to be using IoT solutions within three years, 56% admit that they are not yet taking action.
No one doubts the potential reach of the technology: By 2020, 5.4 billion objects and pieces of equipment will be making business-to-business connections on the Internet, says ABI Research, with annual growth averaging 28%. But making those connections is just the start. What companies learn once their equipment is connected is that it opens up a portal to a new way of doing business for which they might be wholly unprepared.
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