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

Bhagyashri Kambale | December 10, 2021
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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5 Stats to Reshape Manufacturing Customer Experience in 2022

Article | November 20, 2021

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So manufacturers must invest in the consumer experience." } },{ "@type": "Question", "name": "What is the difference between customer service and customer experience?", "acceptedAnswer": { "@type": "Answer", "text": "Customer service is one aspect of the customer journey, whereas consumer experience is the sum of all customer encounters with the brand." } },{ "@type": "Question", "name": "What does a customer experience include?", "acceptedAnswer": { "@type": "Answer", "text": "Customer experience is the overall perception of your business or brand. It is the consequence of a customer's engagement with your website, customer service, and the product they purchase. So, it is the aggregate of all elements from browsing to buying to the product experience." } }] }

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Article | February 3, 2022

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Article | October 27, 2021

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Industry 4.0 is rapid technological progress in production and is transforming the worldwide manufacturing industry. According to bccresearch's market research, the global manufacturing and process control market is predicted to increase from $86.7 billion in 2020 to $117.7 billion in 2025, a CAGR of 6.3 percent. What is the industry 4.0 technology in the manufacturing industry? IoT, industrial internet of things (IIoT), Cyber-physical systems (CPS), cloud computing, artificial intelligence, big data, machine learning, robotics, virtual reality, augmented reality, and additive manufacturing or 3D printing are some technologies that are used in industry 4.0 factories. What are the current technology trends in the manufacturing industry? AI, robots, 3D printing, and the like are all the latest manufacturing trends in manufacturing technology. Additionally, enterprise resource planning (ERP), cloud computing, and machine vision all play a significant part in advanced manufacturing. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is the manufacturing industry's future?", "acceptedAnswer": { "@type": "Answer", "text": "Industry 4.0 is rapid technological progress in production and is transforming the worldwide manufacturing industry. According to bccresearch's market research, the global manufacturing and process control market is predicted to increase from $86.7 billion in 2020 to $117.7 billion in 2025, a CAGR of 6.3 percent." } },{ "@type": "Question", "name": "What is the industry 4.0 technology in the manufacturing industry?", "acceptedAnswer": { "@type": "Answer", "text": "IoT, industrial internet of things (IIoT), Cyber-physical systems (CPS), cloud computing, artificial intelligence, big data, machine learning, robotics, virtual reality, augmented reality, and additive manufacturing or 3D printing are some technologies that are used in industry 4.0 factories." } },{ "@type": "Question", "name": "What are the current technology trends in the manufacturing industry?", "acceptedAnswer": { "@type": "Answer", "text": "AI, robots, 3D printing, and the like are all the latest manufacturing trends in manufacturing technology. Additionally, enterprise resource planning (ERP), cloud computing, and machine vision all play a significant part in advanced manufacturing." } }] }

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Article | March 1, 2022

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Organizations may use this data to detect interdependencies, map material flow, and monitor production cycle durations. This data aids businesses in predicting risks. It also lowers inventory levels and, perhaps, capital requirements. No code tables hold all of your inventory data. Tables are automatically updated as inventory is consumed during operations. Industrial Internet of Things vs Internet of Things (IIoT Vs IoT) IIoT IoT It is geared for industrial applications such as manufacturing, power generation, and oil and gas. It focuses on a broad range of applications, from wearables to robotics and machinery. To avoid life-threatening or other emergency circumstances, it employs crucial equipment and gadgets connected through a network that requires precise sensors. Its deployment begins on a modest scale, eliminating the possibility of life-threatening scenarios. It deals with extensive networks. It deals with modest networks. It is capable of processing data ranging from mild to high. It is capable of processing enormous amounts of data. It is highly reliable. It is less reliable. IIoT Adoption Challenges & Solutions Investment Costs Significant investment expenses are necessary to transform operations, including hardware, software, and human capital. Businesses frequently view IIoT as a giant leap ahead, resulting in a massive bill. A more effective strategy is to break the projects down into bite-sized implementations with set milestones. This will pave the way for outcome-driven success that can be quantified by top-tier management, resulting in a more passionate reaction and maybe a larger scale resource limitation. Additionally, expenses can be reduced by utilizing public infrastructure and software-as-a-service rather than custom-built installations. While the cost of IoT continues to decline, numerous organizations' executives are playing the waiting game. This strategy may be good for the short term, but if you wait for prices to go down for a long time, you ccoul lose your competitive advantage and let other people get a better deal. Data Security It's easy to get paranoid about the attacks and problems because of all the news about cyber security. One must address these security concerns methodically and recognize measures to secure critical industrial information. Depending on the level of sensitivity, data can be checked and encrypted using a variety of one-way interactions. SCADA systems do not have to combine and act on sensor data; they can be digitally segregated. Additionally, the cloud infrastructure might be networked inside to create a "private" or corporate cloud with no external access. These security challenges can be surmounted if the advantages of the IIoT outweigh the hazards. Lack of Skilled Professionals While it is true that the digital world is rapidly merging with the industrial world, the issue remains as to who in the organization can take charge. An individual or team must bridge the IT and OT cultures and meet opposing demands. The program requires a blended IT/OT viewpoint to achieve IIoT goals while increasing operational complexity and responsibilities. There are several data science certifications, online courses, and conferences available to educate middle management. Start growing competency while making learning and education a management team KPI. Consider partnering with institutions and educational vendors. The executive team's appetite for knowledge must be continual. Learning will be viewed as a lifetime process requiring dynamic stability and continual mobility. A shortage of competent personnel was also stated in the Morgan Stanley-Automation World Industrial Automation Survey, with 24% of respondents citing a labor shortage. There is a general shortage of highly specialized talents, but it may also be necessary to look 'outside' to get the essential skills. If there is one thing that is certain in this age of digital transformation and the Industrial Internet of Things, it is that no organization can flourish entirely on its own and that networks, ecosystems, and platforms of partners are critical to success. Final Words Starting an IIoT project should be done with a straightforward and practical approach. This is not a big company-changing initiative, but a series of small projects or digital test beds that might raise sales, profits, or customer retention. Read our latest industrial internet of things infographic for quick tips on tackling IIoT adoption issues. FAQ What are IIoT devices? IIoT refers to linked sensors, instruments, and other devices networked with industrial applications like manufacturing and energy management. What is an IIoT platform? Gartner describes IIoT platforms as a collection of integrated software capabilities. The platform is designed to support industrial assets and their operational environments in safety, security, and mission criticality. What is the IoE? The Internet of Everything (IoE) is a concept that builds on the Internet of Things (IoT). It focuses on machine-to-machine (M2M) connections to represent a more complicated system that includes people and processes.

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