Digital transformation of the industrial belt has already taken a major start. Whether you call it Industrial IoT, Industry 4.0, or Digitization, companies have are using newly available technologies to reframe their business model. For companies with a progressive mindset, the platforms of Iot technology in manufacturing will expose major opportunities for improved asset performance, new services, improved operational proficiency, and completely new methods of offering value to customers.
We function in an extremely dynamic, high-powered, enterprising, complex, and fast-moving space. Industrial digitization provides the intelligence needed to integrate the latest IIoT-related developments and best practices into business strategies. The basic moto of IoT is to replace PLC in industries.
Instances of the Application of Digitization
Digital transformation is taking over every area of business and industry. We can surely expect technology-based start-ups to install digitization by default. However, former, traditional industries’ use of technology is less common. This is not because of a disinclination to embrace the new in these industries. It is because of an awareness of the importance of maintaining a successful practice, ensuring safety, and return on investment. But in fields like manufacturing, utilities, mining, aerospace etc., there is a gradually emerging new breed of technology and Internet of things devices which has already begun to change the game.
The Industrial Iot applications go one step ahead of what many people consider when presented with the concept of IoT. Let’s just overlook the ideas of domestic devices. Think about how technology can be employed to expound high-volume streams of data from existing machinery, plant, equipment, sensors, and controllers.
Also, the average smartphone today contains, perhaps, a few dozen sensors like step counters, light sensors, a simple microphone, face recognition etc. On the other hand, the industrial motor may come with a couple of thousand sensors. In particular, the volumes of data being created by modern industrial units are potentially gigantic.
It must be noted that IIoT goes beyond just “smart” devices, and as a term circumscribes data exchange and data analysis functions. For example, a stand-alone device can be the smartest device, of all other devices, on a factory floor. But unless it is suitably networked into the rest of the digital infrastructure, it remains mute.
Some real, practical, business-improving utilization can be made of the data produced by even a single unit. Till then, the IoT remains futile from the enterprise’s point of view. IIoT-enabled devices and machines can, in many cases, be used to control and also monitor. But this added facility may not be used to optimum effect, until and unless suitable, intelligent use can be made of the data.
Infrastructure for IIOT
Investment in the supporting infrastructure, in many industries, is precisely needed. The IoT deployment is not a priority. With the availability of new plant, devices, and machinery, their equipment with the IoT capability is becoming common. Many enterprises are failing to use this built-in capability. Even if they are using it, they are limiting themselves because of the lack of expertise or industry-specific technological know-how.
Anyone with a prudent eye for technology, will have knowledge of the rise of cloud-based services. For more-established industries, the cloud can be anchored to make sense of the realms of data. Data flows to and from the new generations of IIoT-equipped devices. By pushing IIoT data out into the cloud, the next generation of industry can be stemmed very soon. Several IT companies are emerging that have expertise in IoT technology.
Cloud Based Services
The cloud and the software serves as a service base of many cloud equipment. Clouds are built with a high degree of directness with regards to the infrastructure. The extending function, makes the solution more futuristic, identifying a return on investment. Moreover, in technical terms, the data in the cloud can be added to, processed, or improved in infinite number of ways.
DIGITIZING INDUSTRIAL SECTOR
Whatever be the industry, the process of digitizing and IoT based industrial automation is an indomitable force. It’s primary managers, and also staff at ground level, become conversant with new technologies, mainly IIoT. Moreover, it is capable of comprehending the concept of the cloud, and being aware about what possibilities are open to APIs.
Fortunately, there are existing IIot companies that have worked in industries of all types for years. They can bring forth a mix of technical know-how and distinctive, industry-specific experience and backdrop.
Digital Transformation Technologies can help in improving
- Asset health
- Operating performance and presentation
- Safety, security and risk management
- Employee experience
- Business Processes
Industrial Machine manufacturers can ensure prospective growth of their business. They can introduce digitized products and enhance their aftermarket services. ARC helps machine manufacturers take decisions regarding technologies and technology providers, potential new service opportunities enabled by the IIoT, and aggressive strategy and positioning.
It is easy to focus on the transnational potential ensured by IoT data, applications, and services. The zest of IoT-enabled digital business transformation happens at the 10,000-foot level.
- Faster launch of new products and services, to persist being or become more competitive in global economies.
- Renovation and modernization of their business models and product-centric models.
- Improvement of customer experience to generate brand loyalty and lifetime value.
- Rapid agility and fruitful innovation.
- Causes sufficient increase in Return of Investment (ROI).
- Prevents loss and risk of injury.
When businesses want when they seek digital transformation:
In the past few years, there has been a lot of activism surrounding IOT and digital transformation. However, opinions, both in support and also against digital transformation have been given. Although most CEOs and leaders in the industry are still unable to make a grounded decision whether to implement digital transformation or not.
Moreover, there is one invincible truth among all. The increased use of analytics and the deployment of new technologies can surely bring about a significant improvement in the efficiency, safety, quality and customer interface but to positive change will occur, without people engaging the workforce.
Here are a few stats showing the present day scenario and future prospects of digitization of industries:
- Roughly around 63% of manufacturers believe in applying IoT
to their products. Consequently it is going to multiply the profitability over the next five years and are planning to invest $267 billion in IoT by 2020.
- According to Information Technology Intelligence Consulting, for 98% of organizations, correspondingly a single hour of downtime costs over $100,000.
- Large-scale adoption of predictive maintenance technologies can reduce a company’s maintenance costs by 20%,
- The reduced unplanned dim-outs by 50% and expands machinery life by years. As a matter of fact one third of the 2,000 industrial companies have digitized their supply chains.
- 3/4 expected to implement digitization by 2020.
- With the figures estimated to hit the $438 million mark by 2012, manufacturing of IOT Platforms will make the largest market.
- 79% consider the predictive maintenance of industrial machinery is a primary application of industrial analytics in the next 3 years
In summary, rapid enhancements in digital technology are restructuring the world. Somehow, the plunging cost of advanced technology is revolutionizing business and society. In addition, the ‘combined effects of these technologies is accelerating progress exponentially; technology being the multiplier.
Nevertheless, digital transformation provides industries with unequaled opportunities for creation of value. Consequently, digital technologies are creating new profit pools by improving customer expectations, experience and even more.
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Categorised in: Internet Of Things
This post was written by HIPL