The Industrial Internet of Things: Gaining Hold in 2017
While much of the emphasis around the Industrial Internet of Things has revolved around consumer applications, industrial applications ultimately hold the greatest potential to transform our world. IIoT doesn’t just enhance convenience or give companies a trendy factor, it offers users tangible returns on investment. Although the industrial sector tends to be conservative with new technology and has been slow to embrace IioT, 2017 manufacturing forecasts suggest that is about to change.
What is the Industrial Internet of Things?
The IIoT simply means adding sensors to machinery such as manufacturing tools, conveyor belts, turbines, tractors, and other machinery and connecting them to automation services, predictive maintenance tracking software, and other analytics services. Essentially, it means using internet automation sensors to analyze data, improving efficiency and increasing revenues.
What the Industrial Internet of Things Means for You
In the broadest sense, the II oT enables you to have your entire manufacturing, processing, handling, and shipping lines be fully instrumented and controlled via network-based operations. This connection is not just limited to specific factories, either-it can link together your entire company as well as all of your suppliers, making your entire industrial activity “food chain” one connected operation.
The benefits of incorporating IioT into your company’s operations are numerous, but the top three benefits of IioT implementation are:
- More Effective Predictive Maintenance
At present, most manufacturing companies have a reactionary approach to equipment failure: when something breaks, they go out and fix it. But adding IioT to your operations streamlines maintenance by using sensors and software to predict when equipment will fail and fix small problems before they become large and costly. This can save you up to 30% in industrial maintenance costs and reduce your production downtime by up to 70%.
- Equipment Tracking and Analyzing Innovation
IioT sensors can also be used for real-time data tracking. For example, Michelin sells tires with embedded sensors that track fuel comsumption, tire pressure, temperature, speed, and location of fleet trucks. The data is then sent back to the company and analyzed so that fuel saving recommendations can be made to fleet managers. This level of real-time data analysis leads to extensive savings and time management.
- Increased Revenues
The innovative efficiencies IioT can bring to your business not only save you time by streamlining operations, but can also drastically increase revenues. GE alone has utilized their own IioT software to the tune of $5 billion in revenues, and while that is an exceptional example that many companies won’t match, it does illustrate the money making potential of IioT.
The time to invest in connecting your manufacturing company to the IioT is now. Recent studies have shown that more than 80% of large successful companies in the U.S. Believe that the IioT will be essential to their future success, and the industry agrees. Research conducted by Industry ARC projects that the value of the IioT market will continue to exponentially grown from 2017 until 2020, where it is expected to reach an estimated value of $120 billion. Don’t hesitate-link your operations to the benefits of IioT today.
Our innovative systems use our patented Math Engine technology to keep your expensive IIoT machines running smoothly and efficiently by utilizing automated machine check technology.