IIoT Survival Guide: Choosing Wireless Connectivity for Lowest Total-Cost-of-Ownership
The Industrial Internet of Things (IIoT) is weaving its way into almost every industry today, disrupting the way businesses and manufacturers have operated. All hype aside, embarking on an IIoT initiative is challenging. There is one thing all executives and decision-makers consider when justifying the business case for IIoT deployment and evaluating available technology options: cost.
Cost is a very tricky element as it transcends the immediate investment to incorporate other expenses along the lifespan of an IIoT network. In this regard, Total-Cost-of-Ownership (TCO) is a more accurate metric to rely on than the mere capital expenditure (CapEx). The TCO equation comprises of multiple elements which can be broadly grouped into two umbrella categories – the one-time upfront investment for designing, building and setting up an IIoT wireless architecture; and recurring costs for operating and maintaining it.
The wireless technology that you settle on is likely to impact each of the upfront and recurring TCO elements. As such, the right connectivity decision can help you effectively keep costs down to streamline Return-on-Investment of your IIoT initiative. By examining the TCO framework and top tips to best manage individual cost elements, this IIoT Survival Guide aims to help business leaders and IoT project managers articulate their own cost model and better assess different communication options.
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Lower TCO of Your IIoT Network with the Right Wireless Connectivity
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