IOT – Internet of things.
Industrial revolution is happening right here, right now through the Industrial Internet of things. Hailed to be the driving force of next generation industries, IOT is taking the world by storm. Iot which started out with consumer based applications has now transitioned to industries as well. Iot stood out as a way to make 'things' more efficient. It helps people live better lives. That however is only an additional success of Iot - ironically the most attractive for consumer. The success of iot is its contribution to sustainable development and maximum utilization of available resources, that's what makes iot a perfect fit in the industrial scheme of things (no pun intended). There comes many advantages to using interconnected devices in industries.
Be it in homes or industries IOT offers convenience and a centralized way of monitoring ‘things’ and controlling them from remote locations. Industries all over the world are looking to be more economically viable and sustainable. Manufacturing has evolved and contrary to the image of a typical manufacturing bases as old and outdated, manufacturing has actually undergone technological advancements. Industrial assets are now smart assets and man power managing them are technicians. These smart assets must compliment the industrial processes. Many industries are investing in next generation technology to improve manufacturing and production.
The Several advantages of IOT
IoT is as efficient as the data it holds namely data is a key component of IIoT. Data helps industries to improve operational efficiency. The data has to be collected from various equipments in a plant, these equipments communicate with each other through the common internet of things platform. This data can be collected from critical components to reduce unplanned downtime or monitor how efficiently processes are being run. Let us consider a car parts manufacturer who is looking to reduce the percentage of faulty car parts being produced. If all the car parts are put through a diagnostics test, then one can find out which part manufactured is faulty and this can further pin point what is going wrong. The manufacturer can then optimize that the process for that particular part. Iot does not stop here, the manufacturer can also get valuable input from his customers to know which car part needs replacement frequently. This would enable to manufacturer to cut down on losses and drastically improve the quality of his parts.
In critical components of a plant Iot can be effectively leveraged to gather data and prevent a failure before it even occurs. From this it becomes clear that big data and Iot goes hand in hand. Another added advantage of Iot is that it makes the industrial landscape more agile and horizontal. Moving away from the conventional vertical model of operations of industries, Iot aims to bring it all together on the same level with every aspect of industry communicating with each other.
Iot is reshaping the industrial landscape- it is said that in 20 years time about 15 billion dollars of GDP growth can be generated and industries can be made up to 40% more efficient by utilizing IoT.
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