The IIoT and Manufacturing

February 22, 2018 at 8:00 AM

 

The Internet of Things (IoT) is revolutionizing many industries, including manufacturing. With the introduction of the Industrial IoT (IIoT) and all of its benefits, manufacturing is being transformed by value-add opportunities and smart technology. In fact, manufacturing, transportation and utility industries are forecast to make the largest IIoT investments. However, there is a lot of work that goes into IIoT implementation. Here, we’ll take an in-depth look at how the IIoT is changing manufacturing.

 

Traditionally, manufacturing companies focused on large operations that required a large capital layout with the goal of consistency and repeatability. Organizations adopting IIoT technology must not only dedicate capital to technological improvements, but also change the way they do business. Return on investment is driven by connected operations, smart preventative maintenance and predictive analytics. As IIoT implementation accelerates the speed of business, companies must increase the speed of their internal processes to keep up the pace. Introduction of the IIoT has also shifted customer expectations. Customers expect companies to be nimble and adaptive, and so the manufacturing processes must evolve to meet those expectations.

 

With all of the changes that come along with the IIoT, completing a successful rollout is a challenging task. Security is an issue to consider, if your systems are breached, production can come to a halt. Another challenge is the slow adoption of standards and interoperability. It can be expensive to upgrade your equipment. Also, many manufacturers prefer to use their own proprietary technologies, which may not meet IoT standards. Correctly interpreting the analytics to create the best outcome is a challenge, it takes time to understand how to best integrate the IIoT as a part of the manufacturing process and into your specific business model. Resistance to change also can slow the adoption of the IIoT and its overall success in the industry. For smaller operations, implementing the IIoT and everything that goes along with it, may seem like an insurmountable task. Thus, many of the companies leading the way are large, complex, industrial operations that can absorb large projects, such as an IIoT rollout. 

 

The IIoT offers an array of benefits to the manufacturing industry, but integration of this revolutionary technology is a process that doesn’t happen overnight.

 

5 Things You Need to Know About Industrial IoT

July 6, 2017 at 8:00 AM

 

With the Internet of Things promising a world that is fully automated where objects can communicate without humans, it only makes sense that this technology could be used in other ways –enter the Industrial IoT (IIoT). This next iteration of the IoT applies the IoT technology to industrial applications and is slated to revolutionize the way we do business. Here are 5 things you need to know about the Industrial IoT:

 

1.       It’s smart business

We’ve heard of smart houses, smart cars and even smart cities, now we’ll have smart businesses. The goal of the IIoT is to improve efficiency, productivity and operations on a global scale by linking people, data and intelligent machines. Machines will be able to communicate and work with each other in machine to machine (M2M) networks to optimize production and workflow. 


2.       It takes business into the Cloud

The IIoT integrates physical machinery with software and sensors that can be networked to the Cloud to provide real-time visibility of business assets. These smart machines deliver data that is analyzed and used to monitor and control operations and make real-time decisions, which improves operational efficiency, saves money and reduces waste.

 

3.       It is applicable across a range of industries

Pilot projects have tested and proven that the IIoT can be impactful across a large spectrum of industries that include healthcare, manufacturing, logistics, energy and agriculture.

 

4.       It breathes new life into old equipment

The IIoT will connect more than a century’s worth of existing mechanical and electrical infrastructure to the Internet. This includes manufacturing equipment, fleet tracking and HVAC systems. The IIoT has the power to reduce waste and improve operating costs with features such as a service alert sent before equipment breaks down, or monitoring the flow of gas valves in a refinery.

 

5.       It is the future of business

The IIoT is projected to be one of the fastest growing markets over the next several years with as many as 25 billion IP-enabled "things" being networked by 2020. It has been forecasted that the IIoT will generate nearly $320 billion in worldwide revenue and over 26% CAGR by 2020.

 

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