Thought Leadership

Initiative Background

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The Impact of Connectedness on Competitiveness

Creating Business Value From Operational Insight Driven by the Industrial IoT

The Impact of Connectedness on Competitiveness is a groundbreaking research initiative that seeks to understand the business value created by the Industrial Internet of Things. By engaging with manufacturers, plant operators, infrastructure managers, transportation providers and others, the initiative seeks to understand where these businesses are in adoption and planning for IIoT. It seeks to identify best practices and successes in building and using IIoT applications and benchmark the degree to which smart operational management is enabling new business models, reducing risk and maximizing uptime, safety, comfort, and output, as well as furthering efficiencies and cost reductions.

In a recent BPI Network Study, respondents felt that the Internet of Things, along with Big Data Analytics and Collaborative Design and Development Tools, would be the largest drivers of innovation within the enterprise over the next two years.

The goal of the initiative is to substantiate the premise that enterprise connectedness with and among strategic audiences can impact a company’s ability to compete more effectively and produce greater business value. Through qualitative and quantitative research led by the Business Performance Innovation (BPI) Network, Chief Marketing Officer (CMO) Council and Penton IoT Institute, this initiative seeks to gain insights into where and how connected systems, embedded sensors and real-time data streams are contributing to greater situational awareness, predictive troubleshooting, operational alignment, business continuity, supply chain performance, and industrial productivity. We will also determine how connectedness is impacting the incidence, timeliness and relevance of interactions among key stakeholders – customers, employees, channel, developers, suppliers, investors, opinion leaders, regulators, and others.

This initiative is led by the BPI Network and CMO Council in partnership with Penton, an innovative information services company that empowers nearly 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year. Collectively, the CMO Council and BPI Network reach over 200,000 decision makers and have affiliates and content syndication partners that reach some 75 million business buyers through 15,000 trade publishing sites, association channels, online communities and blogs. 

For sponsorship opportunities, please contact Sally Lopez at slopez@bpinetwork.org

Sponsor

The Nerdery
The Nerdery is a hivemind of software engineers, strategists, human-centered designers and problem solvers who push boundaries to create digital products, services and experiences that better people’s lives and drive business outcomes. Headquartered in Minneapolis with offices in Chicago, Kansas City and Phoenix, The Nerdery’s core services are mobile applications, web applications, websites, systems integration and digital consulting. Founded by three programming pioneers in 2003, The Nerdery has made Inc. Magazine’s list of fastest growing private companies for the past nine consecutive years. The Nerdery was built on the belief that passionate Nerds are the driving force behind business breakthroughs. 
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Partners

CMO Council
The Chief Marketing Officer (CMO) Council is the only global network of executives specifically dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide range of global industries. The CMO Council's 7,000-plus members control approximately $400 billion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include more than 35,000 global executives in more than 110 countries covering multiple industries, segments and markets.  Regional chapters and advisory boards are active in the Americas, Europe, Asia-Pacific, Middle East, India and Africa. The council's strategic interest groups include the Coalition to Leverage and Optimize Sales Effectiveness (CLOSE), Mobile Relationship Marketing (MRM) Strategies, LoyaltyLeaders.org, CMOCIOAlign.org, Marketing Supply Chain Institute, Customer Experience Board, Digital Marketing Performance Institute, GeoBranding Center and the Forum to Advance the Mobile Experience (FAME). More information on the CMO Council is available at www.cmocouncil.org.
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Penton
Penton is an information services company that drives performance for nearly 20 million professionals each and every day. They rely on us to deliver insights and opportunities that inform critical business decisions, help them to engage with their community, advance the way they work, and leverage their potential.
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Studies

Innovation: The New Competitive Equation
In today's innovation economy, institutions of all types and sizes are challenged to rethink and redesign the future. To do so, they must embrace innovation-driven business cultures, processes and platforms, break down barriers to change, and empower innovation leaders and thinkers across and beyond corporate boundaries.
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Events

Mar 29 - 30, 2017 | Johannesburg, South Africa

Join the likes of Sqwidnet, MTN, Huawei, Schneider-Electric, Telkom | Bcx, Comsol, Altech and more at IoT Forum Africa 2017 (http://www.iotforumafrica.com); hosted at Gallagher Convention Centre on 29 and 30 March, for two days of top-level content, discussion, case studies, live demos, workshops and plenty of networking. Don't miss this opportunity to engage with 200+ executives, entrepreneurs and solution providers at IoT Forum Africa 2017 in Johannesburg for an event entirely focused on the Internet of Things.

Apr 27 - 28, 2017 | London, England

IoT Global Congress 2017 is the world's leading Internet of Things Conference 2017 focusing on IoT applications, IoT Solutions and IoT Companies for all verticals including automotive, healthcare, asset and fleet management, manufacturing, security, retail point of sales, smart grid, smart metering, smart home and consumer electronics industry. Latest IoT companies participating at IoT Global Congress 2017 include IBM, GE, ARM, Orange, Sprint, TELE2, and may more!

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Media Coverage

April 21, 2016 - Penton’s IoT Institute to focus on the B2B IoT world
Techseen Bureau , Techseen
Penton, the global information service provider company, has launched an IoT institute, a new business unit that will focus at the practicalities of the expanding B2B IoT world. The institute franchise will encompass information services, learning, research, and live events. Being an online community it will provide actionable case studies, insights, research, and e-learning on the industrial and cultural phenomenon that’s changing the shape of business and cities today. The IoT Institute’s mission is to enable cross-industry and cross-job function learning to drive business performance. Read more »

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Facts & Stats

General Electric predicts investment in the Industrial Internet of Things (IIoT) is expected to top $60 trillion during the next 15 years. (Source)

Bain predicts that by 2020 annual revenues could exceed $470B for the IoT vendors selling the hardware, software and comprehensive solutions. (Source)

McKinsey estimates the total IoT market size in 2015 was up to $900M, growing to $3.7B in 2020 attaining a 32.6% CAGR. (Source)

The global Intelligent Transportation Systems (ITS) market is poised to grow at CAGR of over 10% during 2015-2020. (Source)

With the rising usage of IoT, this is reportedly expected to increase by as much as eight times to over 260 Exabytes (260 billion Gigabytes) in 2018, generating the highest cloud data traffic growth in the world. (Source)

90% of respondents to a recent World Economic Forum survey admitted they don't fully understand the business models and long-term implications of the IIoT. (Source)

The number of cellular machine-to-machine (M2M) connections in industrial automation applications is predicted to grow at a CAR of 23.2%—from 2.5 million connections at the end of 2013 to 7.1 million connections by 2018. (Source)

The Industrial Controls and Factory Automation market is projected to reach $301.9 billion by 2020. (Source)

Research indicates that the use of IoT and M2M technology in industrial automation systems will increase by 25 percent over the next three years. (Source)

The top challenges in manufacturing span people, processes, and technology. (Source)

Still in the early adopter phase, 34% of companies are currently investing or planning on investing in IIoT technologies over the next year. (Source)

47% of manufacturing companies do not expect to invest in IoT technologies in the foreseeable future. (Source)

19% of manufacturing companies do not expect to invest in IoT technologies in the next 12 months (Source)

15% of manufacturing companies expect to start investing in IoT technologies in the next 12 months but are still establishing a budget. (Source)

9% of manufacturing companies have made significant investments in the IoT and expect it to increase in the future. (Source)

7% of manufacturing companies have established a budget for IoT technology investment in the next 12 months. (Source)

47% of the industrial market does not plan on investing in IoT in the foreseeable future and 44% of that market does not understand or know about the IoT. (Source)

21% of manufacturing companies have interest in IoT but are still investigating the impact. (Source)

16% of manufacturing companies understand/are aware of IoT but see no impact at this time. (Source)

Only 4% of manufacturing companies have customer demands are causing them to start to invest in IoT technologies (Source)

9% of manufacturing companies are rapidly pursuing IoT opportunities either for operations, for customers, or both. (Source)

6% of manufacturing companies see value to our operations and have started to invest in IoT technologies. (Source)

By 2030, the Industrial Internet of Things could be worth (US dollars) $7.1 trillion to the United States, $1.8 trillion to China, $700 billion to Germany, and $531 billion to the United Kingdom. (Source)

With IIoT-enhancing measures in place, China could see its cumulative GDP rise by US$1.8 trillion by 2030, raising its GDP in 2030 by 1.3 percent over trend projections. (Source)

In a Accenture surveyed with more than 1,400 C-suite decision makers 84% believe their organizations have the capability to create new, service-based income streams from the IIoT. 73% confess that their companies have yet to make any concrete progress and 7% have developed a comprehensive strategy with investments to match.  (Source)

In a Accenture survey of over 1,400 C-suite decision makers, 96% of CEOs and executives expressed that the senior leadership in their organizations grasp at least something of the nature of the IIoT. But 38% say their leaders have completely understood it. (Source)

73 percent of businesses have yet to make concrete progress with IIoT. Only 7 percent have developed a comprehensive strategy. (Source)

87 percent of business leaders believe that the IIoT will result in the net creation of jobs (Source)

According to a survey by Accenture and GE, 73 percent of companies are already investing more than 20 percent of their overall technology budget on big data analytics. (Source)

Interoperability and security are identified as the greatest hurdles to progress by 2/3 of those companies actively pursuing IIoT initiatives, according to a survey by Accenture, the World Economic Forum and the Industrial Internet Consortium. (Source)

94% of  executives believe that the increasing use of smart products and robotics will change the required skill and job mix in the workforce of the future. (Source)

IoE could enable manufacturers to generate $3.88 trillion of value through a combination of increased revenues and lower costs over the next 10 years (Source)

General Electric has predicted that the Industrial Internet could increase global GDP by $10 trillion to $15 trillion over the next 20 years (Source)

Gartner anticipates the market for Industrial Internent of Thing to be $309 billion with additional revenue for suppliers of connected devices and associated services by 2020. (Source)

For the IIoT market, Gartner has forecast $1.9 trillion in cost savings, improved productivity, and other factors associated with connected devices and services. (Source)

70% of manufacturing executives are focusing on plant-floor data initiatives to drive operational and business excellence, faster time to market, and immediate access to data from machines on the factory floor. (Source)

By 2025, the industrial automation sector will account for nearly three-fourths of all connected devices. (Source)

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Articles

March 23, 2017 - Forecasting Profitable Models For The Internet Of Things
Forbes
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March 21, 2017 - Putting IoT To Work
NetworkWorld
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December 6, 2016 - DHS Aims to use IoT, Analytics to Boost Smart City Resiliency
ZDNet
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December 2, 2016 - Sensor Industry to Grow to $162 Billion Thanks to IoT, Smart Cities and eHealth
TechRepublic
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November 28, 2016 - How Industrial IoT is Making Steel Production Smarter
CIO
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November 27, 2016 - Roundup Of Internet Of Things Forecasts And Market Estimates, 2016
Forbes
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September 23, 2016 - Global Cellular IoT Connections to Reach 1.2 Billion in 2021
RCR Wireless News
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August 8, 2016 - Global Intelligent Transportation Systems (ATMS, ATPS, ATIS) Market, 2020 - Increasing Implementation of Data Analytics - Research and Markets
PR Newswire
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August 3, 2016 - New Report: Intelligent Transportation System Market Research Report by Roadway, Application, and Geography Analysis to 2022
WhaTech
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August 1, 2016 - Smart Cities: 6 Essential Technologies
TechRepublic
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July 29, 2016 - Smart Cities: How India Can Show The Way
Business World
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July 29, 2016 - For IoT Developers, Upgrading to 4G Isn’t Just About Speed
Penton IoT
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July 27, 2016 - Canada’s New Thinking Must Focus on Technology, Talent and Trade
The Globe and Mail
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July 26, 2016 - Are You Ready for the Fourth Industrial Revolution?
CIO Insight
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July 13, 2016 - AT&T Launches Plug-and-Play IoT Starter Kit with Cisco Jasper
Penton IoT
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July 13, 2016 - IoT Transforming Alcohol, Cars and Moth Romance
Penton IoT
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July 12, 2016 - The IoT Is About to Shift into Ludicrous Mode
Penton IoT
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July 11, 2016 - IoT for Business Growth: How Innovative Companies Use IoT to Improve Customer Experiences
Jasper IoT
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July 7, 2016 - Are You an IoT Guru? If So, We Want to Hear from You
Penton IoT
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June 28, 2016 - Tesla and Toyota Among The Smartest and The Most Connected Companies
Tech Crunch
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June 2, 2016 - IoT Platforms Spawn New Revenue Streams
IoT Agenda
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June 2, 2016 - Sephora, Neiman Marcus Turn to In-Store Technology to Enhance the Retail Experience
BizTech Magazine
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May 22, 2016 - Will Utilities Drive IoT Security Market Growth?
Readwrite
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May 19, 2016 - Beacons Entering Industrial Service
EE Times
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May 5, 2016 - The Future of the Industrial Internet of Things
Wall Street Daily
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May 3, 2016 - The Internet of (Every)Things: Forcing CIOs to Think Differently
CIO
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April 25, 2016 - The Necessary Evil: Enterprise IoT Needs a New Middleware
CIO
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April 19, 2016 - Industrial IoT Needs Data Security
EE Times
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September 5, 2013 - The World's Top 50 Leadership and Management Thinkers
Forbes
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Leaders

Ronny Fehling
Vice President & Head of Data Driven Technologies and Advanced Analytics CoC
Airbus Group
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Peter Trebilcock
Director of Design and Building Information Modeling(BIM)
Balfour Beatty
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Iain Treacy
CIO
CNH Industrial
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Alexandre Baulé
CIO, Director of Information Systems & IT VP
Embraer
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Dan Brennan
Global Head of Business Operations & Strategy
GE
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David Parsons
VP, IoT Strategy and Solutions
Hitachi Insight Group
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Sayantani Dasgupta
Managing Director
INOVITION
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Patrick Theimer
Global Marketing Executive - Digital Thought Leader
Kennametal
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Annalisa Gigante
Former CTO & SVP Innovation
LafargeHolcim
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Chris Wiseman
VP - General Manager
Nidec Corporation
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Bill Bien
CMO & Head of Strategy
Philips Lighting
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Alp Öztekin
Regional Head of Media & Digital Marketing
RB
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Scott Perry
Vice President & Supply and Global Product Manager
Ryder System, Inc.
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Jimy Baynum
Director of Market Development
SCA
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Kalman Tiboldi
Chief Business Innovation Officer
TVH
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Jason Mathew
Senior Director of Global Connected Strategy
Whirlpool Corporation
Read more»
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White Papers

Security and Privacy in the Age of IoT
The primary goal of the Internet of Things (IoT) is to provide better, more efficient experiences for consumers, citizens and businesses. With innovation comes an increased need for security. As the industrial sector steps into unknown territory of implementing enterprise level IoT solutions, there are opportunities to efficiently and effectively mitigate potential risks associated with the new technological capabilities. Security and privacy in the age of IoT are of utmost importance to industrial leaders, and IT specialists are responding with effective and actionable recommendations.  Read more »

Pragmatic Approach to Big Data
The explosion of e-commerce, devices, wearables, web usage and mobile apps in the past decade led to exponential growth in the amount of data businesses collect. The sheer amount of data can be overwhelming: 2.5 quintillion bytes are created every day. To put this into perspective, 90 percent of all the data in the world was created in the last two years. Businesses often know they have “big data” but want help understanding what it means and how they can utilize it to improve their business. They’re often looking for a way forward; a pragmatic process for learning from big data that provides useful and actionable insights.  Read more »

The Truth Behind Digital Transformation
Digital transformation has come to the forefront in recent business news, the increased exposure has caused its meaning to become convoluted and misrepresented. Contrary to common perception, digital transformation is not a one-and-done project; it is an ongoing, strategic, company-wide culture shift that lays the groundwork for growth and success. Digital transformation requires a unified and integrated approach — starting with alignment at the top — and a management approach that favors organization-wide goals over siloed departmental initiatives. It’s a team effort and it takes time. Read more »

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Books

Precision: Principles, Practices and Solutions for the Internet of Things
Dr. Timothy Chou has created Precision to introduce us to the basics of the Internet of Things (IoT) for the enterprise. The first part Precision: Principles and Practices introduces a vendorneutral, acronymfree framework. Dr. Chou then discusses the framework's fundamental principles and these principles put into practice. The second part Precision: Solutions puts Dr. Chou's IoT framework into practice highlighting 12 real world solutions for manufacturers who are building precision machines and companies utilizing these machines to receive precision enhanced business outcomes.
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Building the Internet of Things: Implement New Business Models, Disrupt Competitors, Transform Your
Building Internet of Things provides front-line business decision makers with a practical handbook for capitalizing on this latest transformation. Focusing on the business implications of Internet of Things (IoT), this book describes the sheer impact, spread, and opportunities arising every day, and how business leaders can implement IoT today to realize tangible business advantages. The discussion delves into IoT from a business, strategy and organizational standpoint, and includes use-cases that illustrate the ripple effect that this latest disruption brings; you'll learn how to fashion a viable IoT plan that works with your organization's strategy and direction, and how to implement that strategy successfully by integrating IoT into your organization tomorrow.
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PRESS RELEASES

GLOBAL STUDY TO EXPLORE BUSINESS VALUE OF THE INDUSTRIAL INTERNET OF THINGS

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NEW RESEARCH FROM PENTON'S IOT INSTITUTE FINDS PRIVACY & ORGANIZATIONAL READINESS ARE THE PRIMARY CHALLENGES OF IMPLEMENTING IOT

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