IIoT Impact Series: Process Automation
Implications of low oil price, retiring workforce, aging infrastructure, compliance pressure, and new business needs will drive market attractiveness for IIoT technologies in process industries. The convergence of IT and OT will result in the creation of advanced process applications that support real-time decision making. The influx of IIoT within process automation will transform the MAC model into an information-driven MIC approach. Legacy infrastructure will break with the increased penetration of automation and information technologies, which will, in turn, push vendors to offer managed services. Quick ROI, lack of standardization, risk of cyber threats, and integration of existing legacy assets incompatible with IIoT technologies will slow down market penetration for IIoT in process automation. This study analyzes the impact of IIoT technologies on process automation by evaluating the opportunities available in process industry verticals, along with key end-user adoption trends. From the convergence point of view, top IIoT technology trends in process automation are covered. In terms of competitive landscape, a few of the strategic initiatives by leading market participants are explored, followed by potential market penetration strategies for others.
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