10 statistics you can’t miss about IoT in the industry sector (packaging included)

10 statistics you can’t miss about IoT in the industry sector (packaging included)
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I don’t think I need to convince you that industry is changing and a revolution is happening in front of our own eyes, right? So, let’s skip this part and go straight to the point…

We’ve listed 10 statistics that support the above statement. Some of them take your breath away.

Are you ready?

Click the orange circles and check the first 5 statistics in the interactive image.

 

6 . Data and analytics are becoming increasingly important to decision-making (packaging industry)

A report from PWC on Digital Transformation shows that 83% of respondents in forest, paper & packaging industry believe that data analysis will be a core factor to decision making in 5 years. When asked about the current situation, this figure is 55%. There’s a great development opportunity here!

7. Most companies don’t yet have mature data analytics capabilities (yet)

According to the same report mentioned above, only 18% of survey respondents rate the maturity of their data analytics capabilities as advanced, and more than half say that the lack of skills and competencies in their company’s workforce is a key challenge to making full use of data analytics.

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8. Companies will have 5%% of revenue allocated in Industry 4.0 investments

Question, by PWC: “How high are your company’s current and future investment in digital operations solutions? (investment as a percentage of annual revenue)?

The nine industries surveyed plan to invest US$907 bn p.a. globally in Industry 4.0 applications over the next five years.

9. Spreadsheet importance is going to fall over

A survey of data analytics professionals in the industrial industry found that most believe the importance of spreadsheets will decline as IoT-enabled devices and other automated business intelligence tools take over. (Read More)

10. The main driver of enterprise IoT projects is cost-saving (54%)

(By IoT Analytics)

Much of the business initiatives for IoT focus on cost reduction. Only 35% of IoT projects are used to increase revenue (e.g. by offering new products and services connected to IoT). 24% of the projects also increase overall security (e.g. by offering enhanced monitoring systems with real-time alerts and notifications).

You might also like: How a packaging manufacturer increased $144k in factory capacity?

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