Analysis of the current state of Industrial Internet of Things (IIoT) adoption

Abstract

Smart, connected devices are becoming an integral part of our lives, bridging the communication between human-to-machine and machine-to-machine interactions. The potential socioeconomic impact of the Internet of Things (loT) in the Industrials space is forecasted to be huge. These connected devices will result in a significant increase in the overall complexity of systems. While the rate of loT adoption by Industrials is on the rise, a lot of uncertainty remains with regards to the readiness of organizations and the impact of adoption. This could be due to lack of vision from leadership, lack of resources, and also lack of capabilities required for successful adoption. The goal of this thesis is to enable organizations to position themselves well for Industrial loT adoption. This thesis analyzes the current state of Industrial loT adoption by viewing Industrial organizations adopting loT as complex systems. The research consists of an analysis and synthesis of quantitative and qualitative data from organizations around the world, of existing theory, of recent industry research along with the application of systems thinking techniques. The outcome of the thesis is a framework for successful Industrial loT adoption. The research findings reveal several significant implications for managers and leaders of Industrial organizations and the need to employ systems thinking for understanding Industrial loT organizations.