Assessing the Prioritization of Key Influencing Factors for Industrial IoT Readiness in SMEs

Industrial Internet of Things (IIoT) is a network of connected physical smart devices that connects and exchanges data with each other in various industrial environments. Understanding and identifying the key influencing factors are critical for SMEs to consider the readiness of IIoT. Recognizing the key influencing factors is most important as it enables SMEs and policymakers to make more informed decisions and to better plan for an effective adoption of IIoT in enhancing operations and competitiveness. This paper assesses the key prioritization factors and readiness of SMEs to use Industrial IoT (IIoT) technologies to improve their business operations. IIoT involves linking smart devices, sensors, and networks within industrial systems and environment to enable data sharing and analysis in order to improve production and efficiency. SMEs are increasingly turning to IIoT to improve their competitiveness and efficiency and to reduce cost. A detailed study has been conducted to assess the key influencing factors for the readiness of IIoT in SMEs. There is a total of forty-seven (47) influencing factors identified for the successful adoption of IIoT in SMEs. These factors are further divided into four groups based on the TOEI framework which are technology, organization, environment and individuals. These factors are prioritized based on a survey and experts’ opinions after a descriptive statistics analysis to prioritize the key influencing factor for the readiness of IIoT in SMEs. Furthermore, this study will provide significant insights for SMEs and policymakers to make well-formed decisions and plans for adopting and deploying IIoT technologies in the business environment.