The Internet of Things (IoT) is no more a buzzword because it has become a force in several aspects of the manufacturing industry. IoT is primarily about connectivity and enabling various devices and equipment to transfer data over a network without human involvement. With the pace with which IoT is progressing in manufacturing, it’s possible that nearly every device in this industry will be embedded with sensors. As a result, it allows enterprises to track performance and lean out operations which can add value to the business process or customer’s experience.
Manufacturing is massively transformed by the Internet of Things (IoT). Industrial IoT can reduce operational expenses and increase production. Furthermore, IoT helps manufacturers to broaden their reach by building service-based business models through new, connected products.
IoT in Manufacturing Industry can bring digital transformation with proper strategy. Technological advances will continue to power manufacturing, especially IoT. Let’s dive in to explore the future trends of IIoT in manufacturing.
IIoT in Manufacturing: Top Trends to Watch Out
Business Model Transformation with IoT
Industrial IoT Solutions are overall a tempting technology to execute as they improve the performance of a factory by increasing its output and enhancing other business metrics and objectives. IoT with its exceptional methodologies is catalytic for automation. It gives the opportunity to manufacturers for transforming current business models into innovative and productive ones.
The three main approaches are the product, the supply chain, and the approach to manufacturing itself. The resultant factor of these approaches will help you to create a clear-cut strategy for smart IoT adoption. Further, you need to bring exceptional technical expertise from the manufacturing sector who should have a thorough knowledge of the industry.
Greater Visibility Harvesting Big Data
IoT technology is primarily based on data and collection. In addition, Industrial Big Data plays a great role in Industry 4.0. Basically, the smart factory revolves around accurately collected and correctly analyzed data.
Big data comes with several challenges such as collecting necessary data efficiently and giving it value. The former challenge can be solved by IoT analytics and the latter one with the integration of artificial intelligence.
Having massive data at one disposal gives deeper insight. IoT devices can track various aspects of production or supply chain which is unattainable for other technologies. Therefore, IoT is important from the perspective of big data and its role in manufacturing.
IoT with VR & AR Connecting Physical and Digital Aspects
Virtual and Augmented Reality can leverage the potential of data and doesn’t let it waste or lose its original purpose. Similar to many other technologies VR and AR can be integrated with IoT. The combination of these technologies can bring significant economic benefits, such as increased profits, new opportunities through new products or services, reduced costs, etc.
The integration of AR and VR in IoT can be used in the following ways
- Asset Management: IoT sensors collect data collected on the condition of the equipment that can be transformed into virtual elements. It will help in visualizing breakdowns and crashes in real time.
- Space Management: AR is a suitable technology to optimize inventory locations in factories or warehouses. It can create optimal routes for workers to navigate through facilities.
- Employee Training: Manufacturers can create a virtual prototype of equipment or product, with AR and its integration with IoT data. Likewise, it can create a simulation in which your employees can learn how to correctly use machines.
One of the most interesting trends that industry insiders look forward to is edge computing. This technology is an emerging computing paradigm that refers to a range of networks and devices at or near the user. In simple words, processing data closer to the area it’s being generated enables the processing at greater speeds and volumes. It leads to greater actionable results in real-time.
In the manufacturing domain, various devices in the local edge network at a factory can implement the processing without sending data elsewhere. Moreover, this practice is faster, more efficient, and more secure. Since the data never goes out of the factory, there is minimal risk of obstruction or recovery by a third party.
Modern enterprises can expand their business opportunities by integrating edge computing and AI into Edge AI. This concept enables AI computation to carry out near the user at the edge of the IoT network, rather than in a cloud. As a result, enterprises can achieve real-time intelligence in industrial operations, increase privacy and enhance cybersecurity, reduce costs, and improves manufacturing processes.
IIoT Predictive Maintenance
Predictive maintenance is one of the most talked about Industrial IoT trends. It is not surprising though as it has the potential to offer several benefits to the manufacturing sector. IIoT-based predictive maintenance utilizes real-time data which constantly analyzes the condition of assets. Some of its advantages are mentioned below.
- Asset life cycle will increase
- Reduction in maintenance costs and time
- Machine breakdown will be reduced which will enhance equipment monetization
- Accidental malfunction will decrease which results in improving the physical safety of workers
It seems that diverse technologies are going to make their mark in the future which will align with IIoT-based manufacturing industry solutions. The mentioned trends will manage and monitor the asset efficiently, prevent machine breakdown and enhance workplace safety. Overall, IIoT can be the biggest factor in transforming business models which will prove to be profitable ventures for entrepreneurs.
Rejig Digital offers Arete – an Industrial IoT platform that can improve your manufacturing process which helps in transforming your enterprise model in the long term. With our assistance, you can make the most of IoT technology and earn various benefits.