Market analyses find dramatic increase of augmented reality and IoT adoption among industrial companies
PTC, a Boston-based computer software and service company, has released its “2019 State of Industrial Innovation” report series, which reveals that nearly 70% of industrial organizations are accelerating their deployment of AR while industrial IoT (IIoT) is positioned for a “breakout year.”
The Lowdown: The two reports in the series reveal PTC’s findings in the augmented reality and IIoT markets. Companies in the industrial vertical are adopting AR primarily to enhance instruction and training for front-line workers, thus addressing the growing shortage of skilled labor. At the same time, industrial companies are looking to leverage IoT to reduce costs, improve their operational effectiveness, and decrease risk.
Key findings from the State of Industrial Augmented Reality:
• Among PTC respondents, industrial enterprises are the biggest adopters of augmented reality.
• 55% of use cases aim to improve worker productivity.
• Successful AR pilots are moving to the production phase within 12 months at a 20% higher rate year over year.
Key findings from the State of the Industrial Internet of Things:
• IoT is becoming commonplace at heavy-industry organizations, which represented more than 70% of survey responses.
• Comprehensive, pre-built IIoT solutions are driving both established use cases such as operational intelligence (31% of total use cases) and emerging use cases such as predictive maintenance (12% of total use cases) across manufacturing, operations, and service functions.
• Data processing at the device, or the “edge,” was present in 68% of use cases and is a critical capability for solution providers; increasingly, the same capabilities are required at the IoT gateway (37%) and cloud (34%).
Background: The reports include data from a cross section of PTC’s 30,000-plus global customers and 1,000 technology and service partners.
The Buzz: “Organizations in industrial settings realize the urgency in improving productivity and streamlining operations to remain competitive and relevant,” said Jim Heppelmann, president and CEO of PTC. “The insights offered in these reports validate that the adoption of industrial AR and IIoT is an important step toward achieving these goals.”