In the harsh and unforgiving tunnels of the Dundee Precious Metals gold mine in Chelopech, Bulgaria, radio tags in helmets and vehicles deliver a constant stream of data to the mine safety operations center. That data populates a 3D map givingsafety officers an immediate and intuitive view of the location of all mine workers.
In Stockholm, Sweden, medical device manufacturer Elekta installs advanced systems for treating cancer and brain disorders at more than 6,000 hospitals around the world. Over 80% of these installed devices now transmit usage data back to Elekta, feeding a predictive maintenance program that anticipates failures before they happen, reducing disruptions to patient care and total lifetime costs.
In rice fields across Malaysia,hundreds of sensors attached to irrigation gates send water level, temperature, and flow rate data to the Ministry of Agriculture. This information is analyzed and made available to farmers to support both day-to-day optimization of irrigation water usage and rapid responses when water levels become dangerously high.
In every corner of the world, new technologies are transforming the face of industry, often in surprising ways. Known variously as the Industrial Internet of Things (IIoT), the Industrial Internet, or Industry 4.0, these changes are making companies more competitive, cities more efficient, and workers more safe and productive.
Like its counterpart in the consumer realm, IIoT is the collective term for technologies that network physical objects such as clothing, vehicles, medical devices and industrial equipment. Sensors embedded in these objects gather often complex information and then transmit that information to central computers where it can be analyzed and used to drive decision making.
The IIoT revolution currently underway is enabled by advances across a broad range of hardware and software technologies. On the hardware side, sensor designers can leverage the benefits of the same dizzying march toward miniaturization and ultra-low power consumption that has fueled the development of smartphones – complete with their requisite cameras, touchscreens, tilt sensors and GPS units. Small, powerful sensors can now be placed virtually anywhere and run for years on a small battery. Some sensors are even able to operate without batteries, harvesting ambient power directly from radio signals.
Meanwhile a host of software platforms are giving businesses the tools they need to make sense of all the data. At the most basic level, IIoT software provides for connectivity among the diverse devices that might be deployed within a manufacturing plant or across a city, making sure that when a device phones home, the call is answered. But basic connectivity is just the beginning. Once the data from these devices is gathered, it is sliced, diced and analyzed using statistical and optimization tools, and must then be repackaged and delivered to end users in a format that enables them to understand the results and take action.
Real Gains and Savings
The payoff for industrial investment in these technologies can be staggering. Manufacturing facilities routinely report productivity gains of up to 30% after successful IIoT initiatives. Firms that adopt predictive maintenance systems can see equipment failure reduced by as much as 70%. Across the global economy these gains and savings add up. A recent analysis from consultants Mckinsey & Company estimates the total economic impact of IIoT initiatives couldbeup to $11trillion by 2025.
With IIoT playing a growing role in so many business and public venues, traditional sector-by-sector approaches to discussing trends begin to lose their meaning. Technology analysts have identified three broad cross-sector categories to apply when they discuss the business value of IIoT: operational efficiency, energy management, and predictive maintenance.
Operational Efficiency & Effectiveness
Perhaps the most intuitive and straightforward of IIoT’s impacts can be found on the factory floor where bottlenecks and inefficiencies crush productivity and drive up costs. Poor process in the manufacturing environment can lead directly to unnecessary overtime expense. Poor supply control can disrupt the entire production chain leading to delays and lost revenue. When manufacturers implement IIoT enhancements they see faster production cycles, reduced labor costs and double-digit increases in operational efficiency measures.
Energy is the lifeblood of industry. Office lighting, computers, heating, cooling, and major equipment drive fuel and electricity consumption that can easily account for 20% or more of a company’s operating budget. While the price of energy is outside the control of the industrial consumer, smart systems that monitor usage can help get a grip on those costs. IIoT technologies can easily create a double-digit reduction in consumption. Many firms see an energy related IIoT investment pay for itself in less than two years.
Predictive Maintenance & Controls
Predictive maintenance programs are the quiet tsunami of IIoT. When equipment fails, the results can range from a costly inconvenience to a human catastrophe.The software industry has made tremendous strides in the application of machine learning techniques to analyze data and make maintenance decisions that are fully informed by the history and current state of the equipment in question.
Failure-prone parts on a piece of equipment are monitored, enabling technicians to intervene at the first sign of trouble. Historical data is aggregated to develop more effective maintenance schedules that keep equipment running in top form and reduce the total cost of ownership.
Predictive maintenance programs are also opening new lines of business for the equipment manufacturers that embrace them. Rather than playing defense by responding to equipment failures as warranty work and expensive emergency service calls, innovative firms are developing proactive services that add value for their business customers, increase customer satisfaction and create new revenue streams.
Just Getting Started
As exciting as these IIoT developments might seem, it’s important to note that the next industrial revolution is just getting started. As current trends continue, we can expect a greater variety of inexpensive, easily deployable sensors accompanied by more intuitive and complete software platforms. In just a few years, maintaining a factory supply inventory or a vehicle fleet without IIoT will seem as antiquated and inefficient as maintaining a payroll system without software does today. Regardless of your sector, if your organization has not started down the IIoT implementation path, the time to start is now to remain competitive and maintain growth in the new industrial paradigm.
Your Business Needs These 13 Digital Security Solutions – Here’s How To Get The Most Out Of Each
How would you characterize your organization’s digital security posture? If you’re not sure how to answer this question, or perhaps would prefer not to answer it at all, you’re not alone. Countless decision-makers, from uber-competent CTOs and CISOs to CEOs and COOs who couldn’t code…
Louisiana And Oklahoma Introduce Digital Identification To Prevent Fake ID Use
Digital ID in Louisiana Utilizing digital IDs has been a commonly broached topic for a while now. Although most states are only either deliberating their helpfulness or in the utmost initial stages, Louisiana has moved forward. The primary introduction of this technology was done back…
ScanGuard Review – Here is What You Should Know
Doesn’t it sound good and satisfying to have a goop-performing antivirus that is reliable enough? Yes, it is. For that reason, you need to be extra careful when you are in search of a good antivirus. Put all the necessary factors into consideration so that…
The Emerging Need for Social Media Security
By the time you’ve finished reading this sentence, nearly 700 passwords have been stolen from social media accounts across the world. Social media security breaches have the potential to cause up to $6 trillion in cybercrime damages by 2021, up from $3 billion in costs…
Which New Lorex Security Camera Is Right for Your Home?
Keeping your family and your possessions safe requires a proactive approach, and one way to protect what you care about is with a security camera system. Lorex Technology is well known for their security camera solutions, and their two newest products will change the way…
- 3D Printing
- App Dev
- Artificial Intelligence
- Arts and Entertainment
- Big Data
- Blockchain Tech
- Business Technology
- Car Technology
- Cloud Computing
- Cloud Storage
- Computer and Technology
- Conference Calling
- Coupons and Deals
- Cyber Security
- Dark Left 1
- Data Center
- Data Recovery
- Digital Arena
- Digital Marketing
- Edu Tech
- Email Marketing
- Google Glass
- Guides and Tutorials
- Health and Fitness
- Home Improvement
- Home Security
- Internet and Businesses Online
- Internet Marketing
- IT Careers
- Mobile Apps
- Mobile Security
- New Tech
- Online Shopping
- Project Management
- Reference and Education
- Reputation Management
- Sales & Marketing
- Shopping and Product reviews
- Small Business
- Social Media
- Tech Trends
- Technical Support
- Technology in Education
- Tips & Tricks
- Tips And Tricks
- Video Conferencing
- Virtual Reality
- Wearable Technology
- Web Design
- Web Development
- Web Hosting
Financial Experts Share 5 Secrets To Successful Cultural Change
Cultural change can come in many forms and be prompted by a variety of factors, whether internal or external to the organisation. More often than not, change is necessary to keep a business afloat and competitive in a difficult market. But this doesn’t mean everyone…
How To Create And Sell Tasteful Vacation Rental
Vacation rental websites are all the rage at the moment. You may or may not have noticed that the current state of the travel market has taken a massive swing over the last half a decade. The rise of holiday home rentals is one that…
Non-Negotiable Elements For Your Business IT Security Plan
In 2019, having a business IT security plan is more important than ever. An IT security plan is the first line of defense you have for protecting your business – and your clients – against cybercriminals. Cybercriminals include hackers, who frequently obtain personal information with…
Businesses Need To Be Proactive When It Comes To Cyber Security
For business of any size, making sure they are not only compliant with security regulations but continually improving and adjusting the measures they have in place is vital. Quite often the factor which determines how a business approaches cyber security is the mindset of the…
How To Become A Cyber Security Analyst
What is Cyber Security? Cyber security is the practice of protecting a system or network from digital attacks. These attacks are generally aimed to retrieve or destroy sensitive information and it is a serious threat to all the organizations. Who is A Cyber Security Analyst…