The manufacturing industry is always changing, and one of the most important trends is the internet of things(IoT). IoT for manufacturing refers to the growing trend of connecting physical devices and machines to each other and the internet. This helps improve efficiency, productivity, and safety in manufacturing companies.
If you’re not already using IoT for manufacturing, now is the time to get started. Here’s what you need to know about how IoT and how it can benefit your company:
IoT For Manufacturing – Bringing Digital Transformation In The Industry
The Internet of Things (IoT) is a system of interconnected devices, appliances, and sensors communicating with each other over the internet.
According to MarketWatch, the worldwide Internet of Things (IoT) market in the manufacturing sector is projected to grow from $12.6 billion(2017) to $45.3 billion per year by 2022.
The increasing need to monitor and maintain all manufacturing processes and infrastructures fuels the global internet of things in businesses and manufacturing industries. The growing popularity of cloud-based services is also contributing to this growth.
With statistics like these, implementing IoT services in manufacturing and businesses is the most effective way to bring digital change.
“The internet has changed a lot of things in our lives, but the Internet of Things is going to change even more. Get ready for some big changes.” – Brendan O’Brien.
Digital technologies have certainly come a long way. A few years ago, IT specialists were adamant that these technologies couldn’t impact certain fields. But here we are, using digital technology in every sector.
What has made all of this possible is the consumer’s interest and demand for customization, which has driven the rise of IoT.
The Internet of Things (IoT) is a network of devices that connect to the internet and share information with each other.
The devices in this list range anywhere from everyday items to industrial gadgets.
If you’ve used a fitness tracking device such as Fitbit or a voice-activated device such as Amazon’s Echo or Siri, you know what IoT is. By 2025, over 75 billion devices will be connected through the Internet.
Industrial IoT – How Does it Work?
The industrial internet of things connects smart devices, a communication network, analytics, and people. This produces data that allows manufacturers to make better business decisions.
These digital resources have local intelligence and can communicate with analytical systems. They provide information for supply chain partners.
These modern assets are equipped with communication capacity and local intelligence, which allows them to support analytics. This, in turn, provides you with information that can be used to improve the value chain.
Some examples of intelligent assets in the Industrial Internet of Things are digital equipment, plant instrumentation, edge devices, and embedded systems.
The IIOT system utilizes both sensors and internet-connected devices to communicate with each other. The data collected from these devices is processed and analyzed using cloud computing platforms.
These servers, which use remote infrastructure, store and manage your data for retrieval and processing.
IoT devices collect data from sensors and other devices. The collected data is then analyzed by software that interfaces with existing systems.
There are many benefits to cloud-based manufacturing management software over traditional, on-premise solutions. These benefits include increased flexibility and speed of deployment, as well as more reliable performance.
The Benefits Of IoT In the Manufacturing Sector
IoT app developers have a huge demand. The reason is simple: the benefits of IoT. Here are some benefits of IoT in manufacturing that you should know.
Visibility of the supply chain
IoT improves supply chain productivity by tracking materials’ movements, finished products, spare parts, and other details throughout the manufacturing process. Manufacturing companies can monitor production delays in real time and take immediate steps to improve service levels.
It also allows manufacturers to do inventory management.
Manufacturers can, therefore-
- Improve business intelligence.
- Customer service levels can be improved.
- Reduce operational costs.
- Increase revenue opportunities.
- Deliver the right products to the right customers at the right time.
- Improved product quality control
Manufacturing executives can track the number and quality of finished products with real-time data from IIoT devices. It also allows them to keep accurate inventories and quickly identify equipment problems. The Internet of Things technology helps to reduce product defects and ensures higher quality manufactured goods.
Cost Savings & Increased Profits
There is a growing need for high-quality products at affordable prices that provide value to end-users. Higher production intelligence and the ability to track the movement of materials, components, and spare parts lead to lower operational costs and easier management of inventories.
Another benefit of Internet of Things technology is the improved margins due to improved operational efficiency and quality of product.
IoT sensors provide a real-time view of industrial assets, including machine monitoring reports and predictive maintenance assessments. It prevents malfunctions and protects equipment life cycles.
Higher Client Satisfaction
Manufacturing businesses can benefit from the IoT by providing better customer service. Manufacturers can offer customers faster product delivery and availability and round-the-clock availability. This leads to increased customer satisfaction, repeat business from loyal customers, and greater revenue opportunities.
The Challenges of Adopting IIoT
Here are the main challenges facing US companies when launching IoT:
- Large investments and uncertainty around the ROI- IoT initiatives require several investment categories, including hardware (sensors and gateways), network connectivity, cloud storage, and administrative labor. Businesses need to think about how quickly they can implement IoT solutions and how long it will take to generate revenue.
- Data security issues- 58% of IIoT users believe IIoT increases the risk of cyberattacks. However, half of IIoT users claim they don’t have a plan to protect themselves from potential security threats. As IoT devices become more common, IoT security threats are expected to increase. Gartner predicts that 25 percent of attacks will be IoT-related and that $547 million will be spent on IoT security.
- Low-quality employees- Inmarsat found that 72% have a shortage of IoT-experienced managers. Another 80% of respondents report that their employees lack the necessary skills to deploy IoT. Yet another study has found that the technical skills most lacking in today’s workforce experience with embedded systems, data analytics, and cybersecurity.
- Integration with legacy systems and operational technologies- Integrating IT and OT in manufacturing ecosystems is difficult without security and data loss. It isn’t easy to ensure seamless convergence between IT & OT because the systems were built using different technologies and networks in the past. The rapid adoption of Ethernet protocols at the machine level and rapid diffusion of web-based user interfaces are slowly making integration easier, but this is still a challenge.
If you’re looking to get started with IoT for manufacturing, there are many benefits that you can enjoy. IoT can help take your business to the next level, from improved quality control to increased efficiency. To get started, be sure to research the different options and find a solution that fits your specific needs. With the right implementation, you’ll be well on your way to reaping all the rewards IoT offers.