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The IIoT market is expected to surpass 302 billion devices in 2020.
The IIoT market is expected to surpass 302 billion devices in 2020.

According to a recent study by IHS Markit, the Industrial IoT (IIoT) market is expected to surpass 302 billion devices in 2020, representing an increase of 30%.

The study also found that almost 50% of all deployed IIoT projects do not deliver their expected value.

Field devices including sensors account for almost a third of all IIoT devices. The introduction of solutions supporting analytics of Big Data and employing Aritifical Intelligence solutions depend on accessing quality data leading to a greater demand for more sensors, collecting more varied datasets, and then having the capability to collect this data somewhere it can be analysed (whether locally or on the cloud).

One of the primary challenges in bringing IIoT solutions to manufacturing is equipment connectivity. Although legacy equipment lacking this is still prevalent, industrial vendors are now ensuring their equipment can support IIoT, with the proportion and range of devices supporting Ethernet a major focus,” pointed out Alex West Senior Principal Analyst Industrial Technology.

Half of all IIoT deployments failing

The annual IIOT node shipments are expected to propel to 224 million units in 2023, a 100 million unit increase from 124 million in 2018, the study said.

However, despite the industry’s progress, about half of all IIoT deployments are failing. All too often, these deployments are being hamstrung by planning breakdowns, including the failure to set reasonable objectives and to gather support and cooperation from critical personnel within organizations.

Without addressing these issues, the global IIoT market could face major challenges in reaching its growth potential.

Industrial assets have traditionally employed fieldbus for connecting to the industrial network, and while Ethernet solutions have been in place for a couple of decades, their adoption has been slow.

However, after years of making progress in the market, Ethernet is set to displace Fieldbus as the primary network medium for the first time in 2020. Ethernet will account for 43% of IIOT node shipments next year, compared to 41% for Fieldbus.

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