ABB study on industrial transformation unveils relationship between digitalization and sustainability.
ABB releases the findings of a new global study of international business and technology leaders on industrial transformation, looking at the intersection of digitalization and sustainability. The study, “Billions of better decisions: industrial transformation’s new imperative,” examines the current take-up of the Industrial Internet of Things (IoT) and its potential for improving energy efficiency, lowering greenhouse gas emissions and driving change. The goal of the new ABB research is to spur discussion within industry regarding opportunities to leverage the Industrial IoT and empower companies and workers to make better decisions that can benefit both sustainability and the bottom line, according to the company.
The study, commissioned by ABB, reportedly finds that an organization’s “future competitiveness” is the single greatest factor – cited by 46% of respondents – in industrial companies’ increased focus on sustainability. Yet while 96% of global decision-makers view digitalization as “essential to sustainability,” only 35% of surveyed firms have implemented Industrial IoT solutions at scale. Further findings from the study include:
• 71% of respondents report greater priority given to sustainability objectives as a result of the pandemic.
• 72% say they are “somewhat” or “significantly” increasing spending on Industrial IoT due to sustainability.
• 94% of respondents agree the Industrial IoT “enables better decisions, improving overall sustainability.”
• 57% of respondents indicate the Industrial IoT has had a “significant positive effect” on operational decision-making
• Perceived cybersecurity vulnerabilities are the number one barrier to improving sustainability through the Industrial IoT.
“The International Energy Agency estimates that industry accounts for more than 40% of global greenhouse gas emissions today,” says Peter Terwiesch, president of ABB’s process automation business area. “If we are to reach climate objectives such as the UN’s Sustainable Development Goals and the Paris Agreement, industrial organizations need to implement digital solutions as part of their sustainability strategies. Embracing these technologies at all levels – from the boardroom to the facility floor – is key, as every member of the industrial workforce can become a better decision-maker when it comes to sustainability.”
For more information, visit: www.abb.com
