Independent Research Surveys Manufacturing Executives: Real-Time Data from Connected Factory is Key to Driving Innovation & D...
25 Marzo 2021 - 1:00PM
Business Wire
Analog Devices, Inc. (Nasdaq: ADI) announced today a newly
commissioned study conducted by Forrester Consulting on behalf of
Analog Devices, that shows that industrial manufacturers who have
made investments in connectivity technologies (“high maturity”) are
better positioned to drive innovation and gain a competitive
advantage compared to firms that have been slower to implement
connectivity (“low maturity”) across the factory floor.
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Independent Research Survey Finds
Real-time Data from Connected Factory is Key to Driving Innovation
and Delivering Competitive Advantages
The study, based on a survey of more than 300 manufacturing,
operations, and connectivity executives across the globe, found
that 85% of high maturity firms are currently using Industrial
Internet of Things (IIoT) technologies across much of the factory
floor, compared to 17% of low maturity organizations. Over half
(53%) of low maturity organizations report that their legacy
equipment is unable to communicate with other assets.
“This past year was a true catalyst for digital transformation
and many businesses needed to navigate and adopt connectivity
strategies that helped them to become more agile and lay the
groundwork for future innovation,” said Martin Cotter, SVP
Industrial, Consumer & Multi-Markets at Analog Devices. “We see
significant opportunity in the adoption of connectivity solutions,
including 5G, to help organizations get data more quickly, enabling
end applications.”
Findings from the research include:
- Connected firms believe that improving network reliability
(including adding 5G networks) will create significant
opportunity: 68% of high maturity firms say this will enable
them to make better use of existing cloud infrastructure and 66%
believe their industrial data and IP will be more secure.
Conversely, only 21% of low maturity firms believe that improving
network reliability will help improve security. However, all
respondents agree that improving network reliability will improve
efficiency by freeing up employees who are constantly resolving
downtime issues.
- Low maturity firms struggle with security risk: 54% say
that their lack of sophisticated cybersecurity strategy puts their
business, customer, and employee safety at risk.
- The human element continues to pose challenges: Almost
half (47%) of low maturity firms say they lack the expertise to
understand which connectivity technologies to invest in, indicating
a skills gap. Even high maturity firms report that it is not easy
for them to access the insights they need to make labor planning
and safety decisions.
- Real-time monitoring of equipment and productivity
demonstrates an acute awareness of the high cost of unscheduled
downtime: High (5%) and medium (17%) maturity firms reported
much lower occurrence of unscheduled downtime of their industrial
technology or equipment each week than low maturity companies
(53%). These interruptions lead to higher cost of holding inventory
and labor per unit, loss of production and customer confidence and
decreased work capacity.
This research shows us that while many firms are benefiting from
the promise of industrial connectivity, others have significant
legacy and talent-related hurdles to overcome. Both a shortage of
in-house expertise and interoperability of systems and data are two
major hindrances to manufacturing modernization.
Methodology: For this study, “Seamless Connectivity Fuels
Industrial Innovation” (March 2021) – commissioned by Analog
Devices – Forrester Consulting conducted a global online survey of
312 industrial connectivity strategy leaders. Survey participants
included decision-makers in IT, operations, cybersecurity, and
general management manufacturing roles. The study was conducted in
October 2020.
For the full study please visit:
https://www.analog.com/en/landing-pages/001/forester-seamless-connectivity-form.html
About Analog Devices, Inc. Analog Devices (Nasdaq: ADI)
is a leading global high-performance semiconductor company
dedicated to solving the toughest engineering challenges. We enable
our customers to interpret the world around us by intelligently
bridging the physical and digital with unmatched technologies that
sense, measure, power, connect and interpret. Visit
http://www.analog.com
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Josh DeStefano Analog Devices, Inc.
josh.destefano@analog.com
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