Today, we are witnessing the rise of Fourth Industrial Revolution, (which is also popular as Industry 4.0) and Internet of Things, IoT, is being said to be the driving force of this revolution. If we look closely, the Internet of Things, IoT, has begun to influence manufacturing industry in positive light - mostly. It is reasonably transforming the workflow & management processes… and is creating smart factories out of manufacturing sector.
IoT is said to be a closed network of all the objects that breathe-digits and codes and are allowed to communicate with each other in terms of sharing data, over the internet without human intervention. Further, when the concept of IoT is applied to the large scale industries such as Manufacturing –IoT becomes IIoT which is; Industrial Internet of Things.
Industrial Internet of Things- uses embedded sensors, cloud-based data, and interconnected smart devices on the manufacturing floor to derive, artificial intelligence, predictive analytics and to ensure better industrial performance.
Looking at the opportunities piled up by the new age technologies such as - AI and machine learning, Big Data, Robotics & specifically by Internet of Things (IoT) -- many enterprises have taken a leap in transforming their processes into automation. The industrial branch based on intelligent automation and empowered by smart digital solutions with the aim to optimize production is called as SMART MANUFACTURING.
Manufacturing is the sector most affected by IIoT, with a potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025.
The German industrial IoT market will see rapid growth by 2025 in terms of three components: solution, service and platform. A survey conducted in Germany by PwC reveals the following findings:
The most of the manufacturers have already set their path in transforming their businesses because they see the following advantages of implementing industrial IoT in smart manufacturing:
IoT is revolutionizing manufacturing as it accelerates productivity, increases efficiency, minimizes downtime and provides a competitive edge for businesses. MODELCAM is a reliable partner and is best known to provide online IoT courses at lucrative prices. For details, let's get connected at- MODELCAM
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