Sensor Technology and Industrial IoT Growth
Discover the business value behind the trend of IoT for industrial organisations.
Explore the potential benefits of IoT for industrial businesses.
The Internet of Things (IoT) has huge potential in industrial businesses. Connecting people, machines and processes through data analytics, it introduces Industry 4.0 to manufacturing sites across the globe. It drives a new era of real-time operational awareness and response that transforms businesses. It should come as no surprise that savvy organisations are already taking advantage of this innovation.
Keeping pace with rapid industrial IoT growth
The global IoT market is expected to reach a value of $124 billion by 2021. What’s driving this growth? IoT is founded on the idea that equipment can self-report real-time operational data, providing a more transparent view of operations.
This higher level of insight and visibility gives manufacturers:
- Descriptive intelligence: the ability to assess what went wrong after the fact.
- Predictive intelligence: the ability to anticipate what will happen.
- Prescriptive action: the ability to utilise actionable data without intervention.
These methods, supported by energy monitoring sensors, are redefining maintenance and operability.
Driving IoT with wireless sensor technology
With device-level insight, energy sensors can feed Facility Managers information on energy consumption so they can assess performance and operational efficiency. Organisations looking to embrace IoT should be focused on obtaining real-time energy management data. Monitoring the usage and consumption of electricity often leads to greater insights.
IoT is driving changes in maintenance. By viewing performance at a granular level, Facility Managers can deploy a predictive or prescriptive upkeep strategy. The plant can maintain constant production levels and costly equipment failures can be avoided. Data can be used to identify when machines are running over the original specified settings, outlined by the manufacturers. Facility Managers must focus on fluctuations or abnormal energy consumption, rather than simple values, such as how much energy is being used.
The business value of IoT is gives a voice to functions that were previously incommunicable. Facility Managers can shed the antiquated break-fix method in favor of one that avoids disruptions to productivity, but only through wireless sensor technology.
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