Seven tips for identifying and managing IIoT deployment costs

In a 2018 survey conducted by Inmarsat, a provider of satellite communications, one quarter of survey respondents said they anticipated spending at least 10% of their IT budgets over the next three years on Industrial IoT. Most were expecting good returns on their investments. However, in the same survey, most of those who deployed IIoT said they were experiencing higher than expected costs of deployment. Managing the costs of IIoT deployment is a concern in many organizations because there is so little empirical knowledge about cost to deploy. Instead, companies have piloted IIoT and then implemented it in use cases such as managing operations and tracking assets. These implementers are only now beginning to collect data that can tell them how long it will take to recoup their initial IIoT investments.