For companies interested in implementing industrial Internet of Things systems, this article provides an overview of why industrial IoT is important, definitions of the Internet of Things, application examples, information about the underlying technology, and advice on finding the right partner for your business.
Industrial IoT platforms are the fastest growing segment of IoT technologies and include a collection of features such as edge device management, IoT data analysis, advanced sensor technologies and connectivity solutions that improve industrial facilities and operations through remote monitoring, predictive maintenance and comprehensive device data analysis. On a larger scale, industrial IoT platforms will be a key factor in Industry 4.0, also known as Smart Factories, which combine advanced cloud computing, IoT solutions and AI to create intelligent, self-optimizing industrial plants in production facilities. That is, Industrial IoT applies to all applications of the Internet of Things used in manufacturing, and it is projected that manufacturing will be the largest platform of the Internet of Things by 2021, reaching a market value of $438 million.
The Industrial Internet of Things (IoT) uses intelligent sensors and actuators to improve manufacturing and industrial processes. Also known as Industrial Internet or Industry 4.0, IoT is used to provide intelligent machines with real-time analytics that use the data that stupid machines have been producing in industrial environments for years. The driving philosophy behind IoT is that smart machines are not only better at capturing and analyzing data in real time than humans but also more capable of communicating important information that can be used to guide business decisions.
The Industrial Internet of Things (IIoT) refers to the expansion and use of the Internet of Things (IoT), especially in industrial applications. With a strong focus on M2M communication, big data and machine learning, IIoT enables industries and businesses to improve efficiency and reliability in their operations. IIot covers industrial applications such as robotics, medical devices and software-defined production processes.
This part of the Internet of Things that has received a lot of attention has been called the Industrial Internet of Things (IIoT). It goes beyond ordinary consumer devices, Internet access and physical devices connected to the IoT. This section describes how to apply the Internet of Things approach in an industrial context.
In a landmark white paper that Annunziata and Evans of General Electric published in November 2012, 85% defined the high-profile part of the Internet of Things as combining advances in computing, connectivity and analytics with industrial systems. The estimated global total benefits of the industrial Internet over the period 2012-30 have been estimated at $1.5 trillion. The authors described how Power 1, part of this part, has achieved efficiency gains of 1% in industrial systems in segments such as aerospace, energy, healthcare, railways, oil, and gas, with global savings totaling $276 billion annually over 15 years.
Spending on the Internet of Things (IoT) is projected to reach $745 billion in 2019, compared with $646 billion spent in 2018, and is expected to reach $1 trillion by 2022.
IoT should not be confused with the consumer Internet of Things, although there is some overlap between the two. Consumer IoT devices range from smartwatches, smart speaker system, lights, door locks and other smart home devices to shoes and clothing. The fact that there are different possible definitions of industrial internet of things (IIoT) and the synonym Industrial Internet Use, IIoT and industrial market use cases makes a tendency to differ in the way and extent of technology use and have different timelines and major developments that will lead us to where we are today in smart manufacturing and industrial IoT (the Kepware staff read this guest blog by Sam Elsner about how we use industrial protocols to connect the IoT with the Industry Edge protocol mentioned in the infographic).
We gathered a comprehensive overview of 20 of the leading minds and pioneers of the Industrial Internet of Things, drawing on feedback from industry analysts and consultants. To add more to the timeline of some of the major developments that have taken us from the people of Kepware to smart manufacturing and industrial IoT, from EDI and RFID to several breakthrough chip technologies like MEMS, smart converters and more, there is of course no need to stop the timeline here.
We have brought together some of the most innovative and groundbreaking industrial companies in the industrial Internet of Things landscape. Lorawan is a wireless spread spectrum modulation technique that can be employed in a variety of WANs.To take advantage of this feature, we have focused on organizations that use connected technologies together with cloud-based analytics to increase efficiency and introduce new business models. The focus is not only on providers offering cloud-based platforms for monitoring industrial machinery, but also on the companies themselves that use industrial IoT applications and technologies to drive their business.
The term “Industry 4.0” heralded a new industrial revolution in intelligent manufacturing. Sensors, machine-to-machine communication, machine learning, augmented reality, and sophisticated analytics now provide improvements along the industrial value chain with real-time operating data and insights into an intelligent manufacturing environment. The term “industrial Internet of Things” is more muted, but still sounds promising, and drives operational efficiency through automation, connectivity, and analytics.
Monitoring and controlling physical infrastructure for industries such as agriculture, healthcare, manufacturing, transportation and utilities is facilitated by the use of intelligent sensors, actuators and remote access controls. Switching to software-defined infrastructure (SDI) enables new functionality to be added to industrial systems by adding software applications. The changes that IoT brings are closely related to the digital transformation projects that many companies are working on.
By providing detailed data in real time, the IIoT can help businesses understand their business processes and analyze the data from the sensors to make them more efficient and generate new revenue streams. It can also provide companies with insight into the wider supply chain and enable them to coordinate and achieve further efficiency gains