Industrial IoT (IIoT) projects can be prohibitively expensive and prone to long delays. But there’s a radical new approach to building and scaling IIoT applications that’s rewriting the IIoT playbook: according to a recent research report by Forrester, companies using this approach can not only accelerate their IIoT application’s time-to-revenue by 9 months on average, they can also realize an average 88% ROI on their IIoT investment.
In a Total Economic Impact (TEI) study, Forrester Research looked at multiple companies and conducted a rigorous cost-benefit analysis of their IIoT projects. In its analysis, which spans over a three-year period, Forrester found that these companies, on average, stood to realize savings of 45% in solution development, 30% in device management and 75% in service evolution and management costs.
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