INTERNET OF THINGS (IOT)
The real physical world is being digitized at an increasing rate every day, and there has been an explosion of smart devices in the market today. These devices communicate with each other in real-time.
WHAT IS ALL THE FUSS ABOUT IT?
Internet of Things (IoT) in simple terms is a network of interconnected devices which are fitted with sensors, software and connectivity to allow them to perform better by exchanging information with each other. In short, making an individual's day-to-day life simpler!
For eg.: You have multiple devices in your home such as air conditioning, ceiling fans, lights, etc. and all of those are connected with the help of Internet to an independent home automation system. Thereby enabling you to control the above-mentioned appliances using your smartphone. That is the Internet of Things (IoT).
Although it is still in its infancy/ at a nascent stage, the potential that it promises is unimaginative.
Of late there have been multiple applications of IoT in different industries, one of them being in the manufacturing industry.
INDUSTRIAL INTERNET OF THINGS (IIOT)
Imagine there's a manufacturing factory with numerous industrial robots capable of exchanging information with each other, and predicting when they are in need of maintenance or a replacement of their parts. All this is done by those machine robots themselves without any human intervention. Although it's scary to imagine the world of robots inter-communicating, this example is just a tip of the iceberg; the iceberg of exciting opportunities promised by Industrial IoT.
Fast Fact: Machine-to-machine (M2M) connections will grow from 8 billion in 2018 to 27 billion by 2024.
WHAT IS IT EXACTLY?
Industrial IoT is a part of the bigger concept of the above-mentioned Internet of Things.
The basic idea behind Industrial IoT is that machines are much better and efficient than humans at accurately interpreting, capturing and communicating data.
It comprises of machine learning, big data technology along with sensor data and machine to machine communication, thus the introduction of 'Smart Machines'.
Industrial IoT is all set to be the innovative and powerful force that is set to disrupt the international manufacturing market, and also significantly alter the current product development trends. Industrial IoT can simply be described as the use of Internet of Things (IoT) technologies in manufacturing.
BENEFITS OF IIOT
The IIoT can drastically improve connectivity, efficiency, time savings and cost savings for industrial organizations. Companies are already reaping the benefits from the IIoT through cuts in costs due to improved safety, predictive maintenance and other operational efficiencies.
Business decision makers can efficiently use IIoT data to get a comprehensive and accurate view of how their organisation is doing, which will help them make better decisions.
FUTURE OF IIOT
Trillions of dollars are on the line vis-a-vis Industrial IoT as it is supposed to roll out over the next decade. It is estimated that by 2030, IIoT could add a jaw-dropping $14.2 tr. to the global domestic product.
Leading companies have already begun to adapt IIoT in their day-to-day operations, also there is a stern advice from the experts: "Get an adoption plan in place and start moving forward on the IIoT now. This race will not be won by the laggards."
But still, there are many companies who haven't given a thought on the
IIoT and the benefits it has to offer to them. For the companies who want to stay in the competition, will have to adapt IIoT sooner rather than later.
Because Automation in Manufacturing is definitely the future! So why stay behind? Participate in the Automation India Expo 2018 to get ahead in the race of Automation.