Industrial IoT Transforming Business Models & Enhancing Industrial Productivity

With the rising adoption of Industry 4.0, the growth of Industrial Internet of Things (IIoT) has gained momentum for increasing efficiency, the need for predictive maintenance and also for developing actionable insights for industries including manufacturing, energy, oil & gas, healthcare, transportation, medical and many more.

The industrial internet of things energy focuses on incorporating connections into machinery and devices, tying those devices to intelligent networks, and using data analytics to derive practical insights from the data. In order to control the speed, rotation, and operation of wind turbine vanes in real-time for shifting wind conditions, energy generation companies, for instance, will implant industrial internet of things sensors inside them.

The primary benefit of IIoT and smart grid solutions is that they help to unlock the potential of already-existing data and harvest it for automation, better decision-making, and ultimately higher efficiency.

Industrial Internet of Things (IIoT): A Brief Introduction

Industrial internet of things is smart equipment that measures, stores and communicates information across users through either a public or private network. Analytical applications process raw data into actionable insights for driving successful business decisions.

Processes are streamlined and automated by IIoT which helps to increase a company’s productivity. It boosts revenue streams, increases operational effectiveness, and decreases operational expenses. Predictive maintenance is made easier with the help of efficient processes and higher levels of automation, which improve product quality.

The likelihood of developing new sources of income is significantly greater with IIoT. Data insights can reveal how a productive operation can address little-known flaws to increase efficiency. IBM has stated that the Industrial Internet of Things is responsible for the boom of Industry 4.0 in recent years with AI visualization and AI-powered manufacturing.

The Boom of Industrial Usage of IIoT

The manufacturing industry is projected to showcase the most lucrative growth opportunities due to the rising adoption of IIoT as a part of digital manufacturing technologies. Digital production technologies are being quickly adopted by the manufacturing industry, and the Internet of Things (IIoT) is essential to these cutting-edge innovations.

Due to the strategic alliances and partnerships that stakeholders are building, as well as the rising demand for a linked supply chain to provide flexibility, operational efficacy, and regulatory compliance, IIoT is anticipated to experience significant growth in the near future.

The transportation industry is also anticipated to experience significant growth owing to the highlighting focus of streamlining logistic processes. The aim is to improve asset management and implement the usage of smart transportation for optimizing productivity and minimizing costs.

RFID tags, which have been used extensively in the logistics sector, are being phased out in favor of internet-connected trackers that can serve a variety of functions. Modern substitutes like Bluetooth bands and beacons are also gaining popularity. These kinds of solutions not only make it possible to monitor data in more constrained, smaller areas, but they can also enhance operational management.

Industrial IoT Use Cases of Amazon Web Services

Amazon Web Services (AWS) provides IIoT solutions to its huge customer base to unveil actionable insights from raw data for building scalable industrial applications. The three use cases of IIoT include:

Predictive Analysis: In order to improve the standard of factory output, predictive quality analytics help in extracting useful information from sources of industrial data like manufacturing machinery, environmental factors, and human observations. Industrial manufacturers then create predictive quality models with AWS IoT that aid in the development of better goods. Product recalls are decreased and client satisfaction is increased with higher-quality goods.

Asset Performance Assessor: Asset performance is assessed using asset condition monitoring, which records the status of your machinery and equipment. You can record all IoT data with AWS IoT, including temperature, vibration, and error codes that show whether machinery is operating at peak efficiency. You can make the most of your asset's use and expenditure by increasing visibility.

Predictive Maintenance: Predictive maintenance analytics monitors the conditions of industrial equipment to detect potential failures before they affect output, extend equipment lifespan, enhance worker safety, and optimize the supply chain. You can constantly check the performance, health, and status of your equipment with AWS IoT to identify problems as they arise.

Industrial IoT Technology Updates Aiding Businesses Succeed in 2023

Even though the predictions of explosive development have not been realized, IIoT technology is advancing with new approaches for smart manufacturing. For instance, Hilscher's netX 90 technology security features can be integrated into automation products. This technology also uses "root of trust" methods to safeguard CPU activity and isolates communications from applications so that neither can be impacted by the other.

The support of Common Industrial ProtocolTM (CIP) Security by the netX 90 was recently announced by the business, marking a significant advancement for North American automation vendors. Artificial intelligence is used in smart condition tracking to adapt mechanical plant components to data-driven maintenance models.

In these systems, IIoT devices track and collect temperature and vibration data, which is then transmitted via Bluetooth to gateways and analyzed by a cloud application. Furthermore, digital twin technology is aimed at boosting operational efficiency to ensure that all industrial machinery caters to the operational needs.

Where is Industrial IoT Headed Today?

Industrial IoT has witnessed a constant rise in the adoption of internet of things owing to multiple technological advancements including wireless network technologies, high penetration of wi-fi connectivity across regions, smart sensors in machines, among several others. This is propelling the growth of the industrial IoT industry in recent times.

Additionally, organizations are using technology to help them deliver prescriptive and predictive analytical solutions using advanced analytics and methodologies like machine learning (ML) and artificial intelligence (AI), opening up new possibilities for the industry. The continuous learning cycle of ML and AI without any breaks or downtime makes it a more demanding tool in the IIoT market, which in turn is propelling the industry's development.

For instance, Intel partnered alongside John Deere by providing AI-enabled technology for developing an integrated, end-to-end system of hardware and software for generating insights in real-time. By analyzing things beyond the human eye, its neural network-based inference engine is helping the company drive improved data center solutions.