WHAT IS INDUSTRIAL IoT?
Industrial IoT is a network of devices connected via communications technologies to form systems that monitor, collect, exchange and analyze data, delivering valuable insights that enable industrial companies to make smarter business decisions faster.
In manufacturing specifically, Industrial IoT holds great potential for quality control, sustainable and green practices, supply chain traceability and overall supply chain efficiency.
In an industrial setting, Industrial IoT is key to processes such as predictive maintenance (PdM), enhanced field service, energy management and asset tracking.
LATEST NEWS AND TRENDS
According to BI Intelligence, the manufacturing industry, as well as the transportation and warehousing industry, have received the highest amount of investment in IoT to date. These investments, totalling approx $230B between the two industries over the past few years, will continue to drive impressive progress in the development of IoT solutions.
Almost all the corporate giants you would expect to have a stake in the IIoT race are putting serious resources behind their efforts. Siemens offers its own Industrial IoT platform called MindSphere, and Bosch is also getting in on the action by offering their IoT suite publicly available on AWS Marketplace. Expect that through 2019, we’ll see more partnerships develop, offering cross-compatibility between the many platforms available today.
Security will continue to be a primary focus for all providers and users of IIoT.