The world around us is becoming increasingly interconnected. Without a doubt, the Internet of Things (IoT) is impacting us on a personal level every day as we rely on the smart connected devices around our homes and work places. These devices are getting smaller, less expensive, smarter with a longer battery life. Simply think about a few of the devices that are quickly becoming ubiquitous.
These include “smart”
- Door Locks
- Fire Alarms
- Fitness Trackers
- Lighting Systems
- Security System
- Thermostats, and
You may already be aware of the IoT that is permeating the consumer world. However, large scale Industrial Internet of Things (IIoT) is an even bigger wave of change happening right now.
Quoting from Forbes:
- “Global spending on IIoT Platforms for Manufacturing is predicted to grow from $1.67B in 2018 to $12.44B in 2024, attaining a 40% compound annual growth rate (CAGR) in seven years.” 1
- “IIoT platforms are beginning to replace MES and related applications, including production maintenance, quality, and inventory management, which are a mix of Information Technology (IT) and Operations Technology (OT) technologies.” 1
- “Connected IoT technologies are enabling a new era of smart, connected products that often expand on the long-proven platforms of everyday products.”1
- “Capgemini estimates that the size of the connected products market will be $519B to $685B by 2020.”1
- Source IoT Analytics’ study, IIoT Platforms For Manufacturing 2019 – 2024. IoT Analytics is a leading provider of market insights for the Internet of Things (IoT), M2M, and Industry 4.0.
Industrial IoT is optimizing factory performance across all systems and machinery. For years this type of monitoring and control was reserved for huge manufacturing operations. Today, with affordable, highly configurable IIoT devices, Macrosoft is seeing companies address all aspects of their processes no matter how small or specialized.
Areas of IIoT activities include:
- Connecting the full Factory Operations
- Eliminating Variability and Waste
- Employee Tracking
- Identifying Preventative Maintenance
- Monitoring Manufacturing Lines
- Setting Safety Measures
By John Kullmann | June 10th, 2019 | IoT