To identify the most anticipated and promising use cases of the industrial IoT, Bain asked customers and vendors where they stand on deployment of a wide range of applications. We expect rapid growth of those on the top right of the chart, which ranked high for customers and vendors alike: quality control, remote monitoring of equipment, and tracking of assets or equipment on production sites. Vendors are ready to deploy predictive maintenance, but customers have cooled slightly on the concept because it has proved harder to implement than they thought it would be. On the other hand, customers are eager to try out augmented reality and virtual reality for maintenance and training, but most vendors aren’t quite ready. For those that are, this represents an untapped opportunity.
Michael Schallehn and Christopher Schorling are partners with Bain’s Technology practice, based in Silicon Valley and Frankfurt, respectively.