IoT in Manufacturing: How It's Changing the Way We Do Business

IOT_IN_MANUFACT
IoT in the manufacturing industry introduces a superior technology that is coming up as a blessing for the industry. Manufacturers are enjoying one-of-a-kind benefits and returns on their reinvestments in IoT. Benefits such as enhanced productivity, work safety, reduced downtime, cost-effective operations, and more such benefits of IoT in manufacturing make it more and more popular with each passing day.

The global IoT market is estimated to reach a value of USD 1,386.06 billion by 2026 from USD 761.4 billion in 2020 at a CAGR of 10.53 percent over the forecast period of 2021-2026. So the whole worldwide market of IoT has a bright future in the following years.

“As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.”

– Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca

Let’s check out below some exciting facts about IoT in manufacturing and see how IoT makes a difference in the manufacturing industry.

 

IoT in Manufacturing: Some Interesting Facts


  • According to PwC, 91% of industrial/manufacturing enterprises in Germany invest in "digital factories" that use IoT solutions.
  • According to the International Federation of Robotics (IFR), China employs more industrial robots than any other country (many of which are connected to the internet in some way).
  • According to IoT Analytics, the industrial sector spent more than $64 billion on IoT in 2018 and expects investment in Industry 4.0 to reach $310 billion by 2023.
  • According to the Eclipse Foundation, most IoT developers are focused on developing smart agriculture systems (26%), while industrial automation is another big focus area (26%). However, home automation is dwindling in popularity, accounting for just 19% of projects.

 

How Does IoT Work for the Manufacturing Industry?

The Internet of Things (IoT) is a network of interconnected devices that communicate with one another and with other networks. While IoT-enabled devices are capable of various tasks, they are primarily employed to collect data and carry out specific tasks. The implementation of the Internet of Things in manufacturing is often referred to as the IIoT, or Industrial Internet of Things.

IoT makes use of 'smart' devices to collect, process, and act on data. These intelligent devices are equipped with sensors and other software that enable them to communicate and exchange data inside the network.

IoT-enabled equipment gives crucial real-time data that enables manufacturers or machine operators to make informed decisions. So, how does it function in practice?

  • Sensors capture data from the system and transfer it to the cloud, where it can be analyzed.
  • The data is transferred to the quality assurance system.
  • The data that has been analyzed is forwarded to the end-user.

 

How the IoT is Improving Manufacturing Business Operations

The Internet of Things (IoT) has numerous benefits for the manufacturing industry. We'll go over some of the significant benefits that the Internet of Things brings to the manufacturing business.

 

Energy Efficiency Solutions

Energy is a high cost in manufacturing. Unfortunately, the current industrial energy infrastructure can only track excessive energy consumption.

The utility bills include the factory's energy consumption records. But, unfortunately, nobody can break down energy consumption to the device level and find out the underperforming pieces. Some energy usage monitoring tools exist, but they only provide partial data, making system analysis difficult.

IoT can help by giving device-level energy data. The sensors will detect any underperforming devices in the network and alert you so you can take action. As a result, the technology can help you reduce energy waste and find other ways to save it.

 

Market Forecasting

Data is required to determine trends and quality of production at a manufacturing facility. It also helps manufacturers plan and anticipates changes. These forecasts can help with inventory management, employment, cost control, and other operational procedures. Thus, IoT technology makes it easier to foresee and optimize customer requirements.

 

Proactive Maintenance

The Internet of Things (IoT) uses sensors to gather data about assets' health and productivity. In addition, it uses advanced analytics to give actionable information. These are presented on an appealing dashboard connected to your smart device. This allows for predictive maintenance to be used in the manufacturing industry.

 

Superior Product Quality

Every manufacturer is determined to produce a high-quality product at a low cost. Therefore, a minor quality modification can have a significant influence on the manufacturing firm.

Customer happiness, waste reduction, sales, and profit can all benefit from high-quality products. But making high-quality products isn't easy.

The Internet of Things (IoT) can assist you in this endeavor. Poorly set, calibrated, and maintained equipment are some of the main reasons for low-quality products. Worst of all, many small things sometimes go ignored as the final product seems perfect. Quality tests show the product is fine, but your consumers start having problems after a couple of months.

Imagine the resources needed to identify and correct the problem. Sensors in an IoT network detect even minimal tweaks in setup and alert operators. The team might momentarily stop production to address the issue before the production cycle gets complete.

 

Rapid and Informed Decision-Making

The IoT can dramatically improve organizational decision-making. It unlocks vital data about network equipment performance and delivers it to the right person.

Managers and field operators can use this data to improve plant processes and overall production.

In addition to these significant benefits, IoT in manufacturing can help manufacturers improve their manufacturing operations and construct a unit that meets the vision of the smart factory of 2040. The future beyond IoT would be the icing on the cake for all of us, as technology has always amazed us.

Imagine the day when IoT and AI merge, and the virtual gadgets controlled by IoT are the next major milestone. Then, the ideal combination of robotics, AI, and VR may reduce the manufacturing plant size and cost while increasing the output to a level that is unimaginable and unattainable as of now.

 

Airbus Improved Production Efficiency with Its Factory of the Future Concept

It's a massive task for a commercial airliner to be assembled. The expense of making a mistake throughout making such a craft can be significant, as there are millions of parts and thousands of assembly phases. Airbus has established a digital manufacturing effort called Factory of the Future to optimize operations and increase production capacity. The company has installed sensors on factory floor tools and machinery and supplied workers with wearable technologies, such as industrial smart glasses, to reduce errors and improve workplace safety. The wearable allowed for a 500% increase in efficiency while eliminating nearly all mistakes in one process named cabin seat marking.

 

Final Words

While the benefits of IoT devices have long been a topic of discussion among technology enthusiasts, the incorporation of IoT in manufacturing is creating a new buzz in the industry. The benefits of IoT in manufacturing, such as remote analysis of operations, processes, and products, are assisting manufacturers in establishing a more productive manufacturing unit. As a result of these benefits, IoT use in manufacturing is accelerating. Recognize the IoT's potential and take a step toward incorporating it into your manufacturing operation in 2022.

 

FAQ

 

What is the Industrial Internet of Things (IIoT)?

IIoT stands for Industrial Internet of Things. It uses data to improve industrial efficiency. To enhance industrial performance, it uses embedded sensors, cloud data, and connected devices.

 

Why is the IoT changing manufacturing?

Real-time monitoring of machines and accurate reporting for better decisions are possible through IoT. This improves business strategies and project control. Thus, the Internet of Things has a significant impact on the profitability of any manufacturing company.

 

How does the IoT transform the way we do business?

We can use data collected by IoT devices to improve efficiency and help organizations make better decisions. They tell organizations the truth, not what they hope or believe.

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Navigating the path to success by unveiling the best practices for thriving in Industry 4.0 through successful digital transformation. Embrace the data-driven decision-making and customer-centricity. The pursuit of successful digital transformation has evolved from a business strategy to a business necessity. It is a vital imperative for organizations striving to survive and thrive in an ever-competitive market. Within this paradigm shift, a journey unfolds that transcends the commonplace and ventures into the realms of strategic innovation. This best practices article is not just a standard guide but a roadmap to excellence. Explore the best practices that propel businesses into the forefront of Industry 4.0. Beyond the surface of technology adoption lies a deeper narrative, one of cultural transformation, stakeholder collaboration, and visionary leadership. Delve into the intricacies of data-driven decision-making, the agility that fuels progress, the relentless pursuit of knowledge, and the unwavering commitment to the customer experience. Each of these elements forms a crucial thread in the tapestry of successful digital transformation. Through compelling case studies and real-world examples, draw inspiration from industry leaders who have not merely embraced change but have harnessed it to redefine their future. 1. Make confident decisions with Digital Twin Combining the physical and digital realms enables seamless integration of the entire value chain, from design to production, while optimizing with continuous data flow. A digital enterprise can harness the limitless power of data by obtaining valuable insights to make quick and confident decisions and to produce best-in-class products through efficient production. 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Manufacturing, automotive, aviation, and other industries have adopted digital twins to boost productivity and efficiency. By 2025, the manufacturing industry is predicted to reach a market size worth over six billion U.S. dollars. 2. Vertically Network Various Units in Enterprise Vertical integration in a Digital Enterprise involves the convergence of IT and OT (Information Technology and Operational Technology) to enable seamless data flow from the shop floor to the top floor. The vast amount of data generated by field devices and control units on the shop floor is vital in the context of Industry 4.0, where intelligent data utilization and communication are paramount. Vertical integration generates a comprehensive solution by integrating IT systems at various hierarchical manufacturing and production levels. These hierarchical levels include the field level (interface with the production process via sensors), the control level (machine and system regulation), the production process level (to be monitored and controlled), the operations level (production planning and quality management), and the enterprise planning level. Vertical integration allows for improved communication and collaboration across different departments within the organization. This leads to better coordination, streamlined operations, and increased efficiency across the entire manufacturing ecosystem. A study by the Boston Consulting Group found that companies with a high level of vertical integration were 16% more productive than those with a low level of vertical integration. 3. Horizontally Integrate the Processes in Lifecycle The concept of horizontal integration in a Digital Enterprise ensures smooth data flow throughout the entire value chain. This integrated approach enables the digitalization of the complete value chain, spanning from design and production to service and recycling. By establishing seamless horizontal integration, it eliminates information silos and creates connections that encompass all aspects, from product innovation and manufacturing to product usage and beyond. Horizontally integrated companies focus on their core strengths and partner to support the value chain. Horizontal integration helps information flow between plant-level Manufacturing Execution Systems (MESs) when a company's manufacturing sites are spread out. This allows production sites to quickly share manufacturing data, such as unexpected delays, breakdowns, and inventory levels. Automated cooperation is crucial to supply chain integration in both the upstream (production processes and downstream (the process of bringing the finished products to market) supply and logistics chains. The integration lets a corporation automatically switch production duties between locations. A study byMcKinseyfound that companies that engaged in horizontal integration in the digital age saw their market share increase by an average of 10%. 4. Upgrade Digitalization using Automation Automation catalyzes growth by streamlining operations, breaking down silos, and promoting cross-functional collaboration. With reduced errors and increased efficiency, businesses can scale their operations with fewer resources, fostering a climate of innovation. This increased productivity allows employees to focus on more creative and challenging tasks, leading to higher motivation and engagement. Furthermore, automation provides a better customer experience, essential in today's digital-savvy market. By automating processes, businesses ensure quick access to customer information, leading to increased satisfaction. Lowering costs and expenditures is another significance enabling businesses to eliminate waste, save time, and conserve resources by automating data entry, approval workflows, and financial procedures. Additionally, automation enables efficient management of decentralized global teams from a central hub, further contributing to cost savings. Automation aids in enhancing security measures and simplifying compliance procedures. Businesses proactively identify vulnerabilities and ensure compliance with ever-changing regulations by automating data-intensive tasks. 97% of IT managers feel process automation is necessary for digital transformation. 5. Implement Additive Manufacturing The adoption of Additive Manufacturing (AM)technologies has prompted the evolution of innovative business models that emphasize environmental perspectives. AM has emerged as a transformative solution within the smart manufacturing industry, offering numerous advantages, such as improved labor, energy, and material optimization, enabling companies to respond to changing market demands effectively. AM is particularly time-saving and cost-effective for small-batch complex geometries products, allowing for non-traditional mass customization and shortening the product development cycle. It encourages changes in sustainable business models, including integrating recycled materials, increasing component attributes, and enhancing product lifecycle. AM’s sustainable benefits have garnered significant attention, focusing on reducing waste, optimizing material consumption, and shortening supply chains. Using layer-by-layer production, AM is considered less wasteful than traditional subtractive methods. It also facilitates the creation of products with extended lifecycles through repair, refurbishment, and remanufacturing, promoting sustainability and environmental responsibility. Study data estimates that the cost savings that can be achieved with Industry 4.0 transformations is 50%. 6. Choose the Appropriate Technology The success of digital transformation endeavors hinges on the careful selection of technologies to invest in. Avoid investing in the latest technology just for the sake of digitization, and refrain from rushing into numerous significant changes simultaneously, which may overwhelm employees. Instead, opt to gradually replace legacy systems and synchronize technology with business objectives through the implementation of new procedures. Here’s what Airbus did. Case Study: Airbus Airbus is the market leader in aeronautics and aerospace products and services worldwide. The organization needed a user-centric digital transformation solution to optimize its data analytics, technology, and machine learning tools, but this proved difficult. Later, it embraced open-source technology and consolidated its 15 tools onto a user-friendly platform. In ten months, this helped produce 290,000 visits and 2,200,000 page views. Additionally, the company's service center is now managing 30% fewer incidents. 7. Adapt Company for a Change Digital transformation does not demand extensive technical expertise from management and employees; rather, it necessitates a shift in mindset. By embracing this new mindset and leveraging technology solutions to automate processes for both customers and employees, rapid growth can be achieved within the organization as well as in the external market. To facilitate this transformation, it is essential to identify areas that require change, enhance transparency, and foster a culture of collaboration within the organization. By taking these steps, an organization can effectively prepare for the changes brought about by digital transformation. Case Study: Honeywell The Fortune 100 manufacturer operates in industries such as aerospace and building technology. To improve product quality and make it easier to apply digital strategies, it cut its operations from eight markets to six. Early in its transformation journey, it established a digital transformation group in the company that led digital innovations like data-driven product offerings, IoT-connected devices, and advanced industrial process control. Honeywell Intelligent Wearables eliminated the need for expert site visits, empowered workers to continue learning, improved their performance, and effectively shared their knowledge with peers by connecting field workers with remote advice. In 2018, Honeywell's share price grew from $95 to $174, and revenue went from $40 billion to $43 billion. 8. 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