The Digital Transformation of manufacturing is swelling throughout Industrial IoT (IIoT) and Industry 4.0, and manufacturers need to start implementing IoT technology to stay ahead of the competition.
KORE recently hosted a webinar to help IIoT companies understand how technology within factories is transforming the manufacturing segment through IoT implementation, the advantages for manufacturers investing in IoT, and how they can streamline the supply chain to optimize shipments and deliveries. This webinar, “Industrial IoT: Inside, Outside and On the Road,” is available on-demand but took feedback in real-time from attendees to see where they were in the implementation cycle and what problems they were looking to solve.
When the speakers asked the folks in attendance what the main things driving them to adopt IIoT solutions might be, the results were exciting telling:
The most significant share was that a third of all respondents said they were looking into IIoT to create new business opportunities and profit centers. This is a clear sign that the marketplace is only just beginning to explode, I think. Also, it indicates that the IoT pros out there know that there is a lot to be found and still to be capitalized upon in IIoT implementation.
There’s no surprise that the following three biggest categories, improved operational efficiency, increased productivity, and decreased downtime, combined for 57 percent of all responses, with efficiency making up almost half of those. These have been the mainstays for IIoT implementation since it began and remain some of the most important advantages for companies getting into the industry.
The poll’s final option was to maximize the utilization of existing assets, and the 10 percent of the audience looking for that are in the right place and are likely also in the camp with folks looking into improved operational efficiency and new business opportunities.
As an IIoT enablement company, KORE also drives education on how best to leverage IoT technology in the industrial and manufacturing sectors. The company offers a variety of insights into how best to implement IIoT into operations to meet business goals.
One key thing they recommend is monitoring equipment continuously constantly to know precisely when to conduct maintenance, rather than relying on routine scheduling. When equipment isn’t serviced at the correct times, repairs are inevitable and expensive. Also, the ability of IIoT to give remote technicians access to information and applications from anywhere facilitates more efficient maintenance and repairs overall while minimizing truck rolls.
There’s a lot more, so make sure you check out the archived webinar, on-demand at IoT For All.
According to Grand View Research, the global IIoT market size is predicted to reach $949 billion by 2025, and that means the manufacturing industry must be able to process billions of events per day in real-time and ensure consistent and reliable data processing and correlation across machines and sensors. Getting smarter is no longer optional for manufacturers that want to succeed in the Digital Transformation age for IIoT.