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

Bhagyashri Kambale | December 10, 2021 | 932 views
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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