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IoT services

Competitive Benchmarking of IoT Services for an Industrial Manufacturer: A Case Study

Staying updated with the market trends and a detailed competitive benchmarking study can help industrial manufacturers grow by leaps and bounds. The progress made by a US industrial manufacturer using competitive benchmarking for IoT services holds lessons for industrial players of all stripes.

Industrial companies were already amidst disruptions and economic pressure during early 2020 from ongoing trade disputes, repercussions of Brexit, automotive industry challenges, and the demand slowdown in China. The COVID-19 outbreak has put global economies and businesses into a much more profound and unprecedented crisis. Consequently, there have been shocks to both supply and demand across markets.

The critical leadership focus at the moment is mostly on minimizing the employee toll of the COVID-19 through safety measures for workers, and the new physical-distancing standards are dramatically altering operations, employee responsibilities, and staffing. This reinforces the need for IoT services to help companies proceed on the journey to the ‘new normal.’ IoT solutions, when implemented in a plug-and-play mode, can be instrumental in ensuring business continuity and minimizing economic damage while anchoring employee safety, improving liquidity, and reducing short-term costs.

For exclusive market insights, competitor assessment & benchmarking, and data-backed strategies in the IoT service market, Request a complimentary proposal from our industry experts.

Competitive benchmarking of IoT services for an industrial manufacturer

Engagement Scope

In a span of 16 weeks, the client, an industrial manufacturing company in the United States successfully actioned their plan to venture into the IoT service market by launching their cloud-based Internet of Things (IoT) platform.

Engagement duration: 16 weeks | Region of focus: North America | Segment: IoT services

An industrial manufacturer based out of Ohio, USA, wanted to venture into the IoT services market with an aim to provide end-users with increased visibility into their operations, optimize production, reduce costs, and increase customer satisfaction. To succeed in this new initiative, the client wanted to identify and evaluate suppliers offering IoT services for commercial and institutional end-users in segments including laundry, kitchen, and facility cleaning dispensers. Through the engagement, experts at Infiniti were also tasked with assessing pricing models, product offerings, market dynamics for the adoption of IoT services, and growth of smart commercial/facility segment. This data would facilitate the client to evaluate competitor offerings, pricing models, market challenges, and market dynamics across different segments.  

Our Approach

Experts at Infiniti used a sequential approach to obtain accurate and actionable market insights. This involved:

  • Phase 1 – Planning, Initiating, and Source Identification: The key objectives of the engagement were determined along with the schedule finalization for the project, including the overall engagement scope and duration. The next step involved identifying and establishing the key sources of data collection.
  • Phase 2 – Data Aggregation:  Experts at Infiniti Research used an incisive approach consisting of primary and secondary research for data collection.In the primary research phase, our industry experts conducted 29 in-depth primary interviews with market experts, business executives, and end-users of IoT services in laundry, kitchen, and facility cleaning segments.Secondary research involved data collection from sources, including public and private databases, industry news, articles, events, magazines, and competitor websites.
  • Phase 3 – Data Analysis: The next phase involved a thorough validation and data cleansing process to filter out the required information from the extensive data set collected. Post this, an in-depth data analysis was undertaken using a variety of techniques including top-down/bottom-up market analysis, pricing and structuring analysis, detailed competitor benchmarking, and market segmentation analysis.
  • Reporting in Structured Templates: A detailed report was presented to the client based on the refinement and transformation of data in structured templates to make the data actionable.

Key Findings & Recommendations

Based on the comprehensive competitor benchmarking analysis, pricing analysis, and market segmentation analysis undertaken on the IoT services market for the client, the following were the key market findings and recommendations presented to the client:

  • Subscription-based pricing model and area-based pricing models are the two key pricing approaches adopted by top companies providing IoT services in the US. A subscription pricing model can be designed on a monthly or yearly basis depending upon factors such as the number of connected devices, type of users, customized solutions, and client requirements. On the other hand, an area-based pricing model is based on factors such as the type and area of the building (in sq. ft.). Suppliers offer subscription plans and one-time payment options depending on the clients’ requirements.
  • Real-time dashboards, remote configuration, real-time alerts, and asset management are some of the key IoT service features offered by the client’s key competitors in the market.
  • Top market competitors of the client offerings IoT services have structured their service offerings into three main formats. A bundling structure that comes with a wide range of plans (combining many features into a single plan), an individual IoT solution that includes a fixed package with pre-loaded features, and a customized structure that allows customers to choose add-on features to the existing plan.
  • Trends such as increasing demand for real-time monitoring of business operations and predictive maintenance planning are driving the demand for IoT services across entire laundry, kitchen, and facility cleaning segments.
  • The demand for real-time monitoring of business processes across the laundry, kitchen, and facility cleaning segments is expected to be driven by factors such as the increasing need to improve efficiency and productivity, lower the cost of resources, and improve the life of dispensers.
  • Factors such as improving uptime have become quite prevalent, hence, propelling the demand for IoT services. The increasing need to save time and resources is also expected to drive the adoption of IoT services.
  • Several players in the IoT services market are also investing in smartphone-based applications to address market demands.
  • The kitchen segment is experiencing an increasing demand for connected warewashing solutions and intelligent dishwashing, thereby propelling the demand for IoT-based services.
  • Factors such as the rising demand for smart cleaning dispensers and automation are driving the demand for IoT services across the commercial laundry segment.

Want more market-specific data and insights? Get in touch with an industry expert.

Key Recommendations & Business Impact

Our competitive benchmarking analysis and market assessment study helped the client gain an in-depth understanding of the IoT services market and evaluate various IoT services offered by key competitors and strategies used to promote them to the target customers. The pros and cons of each of the IoT services provided by market competitors were weighed during the competitor benchmarking analysis and the client selected the most viable and feasible features. The client decided to offer their IoT services in a bundle structure and have segregated them on the basis of Start, Pro, and Premium, each consisting of different features in each bundle.

Experts at Infiniti identified that smart cleaning dispensers have high demand in the laundry segment. In contrast, there are a high demand for connected warewashing solutions and robotic cleaning equipment in the kitchen and facility cleaning segments, respectively. This helped the client strategize and route their investment on the most profitable and in-demand segments. The client also decided to invest in predictive maintenance and planning as there is a growing demand for such IoT services among different end-user segments such as hotels, hospitals, and laundries.

Within seven weeks, the client launched its cloud-based Internet of Things (IoT) platform, which was rolled out in the industrial laundry segment first with several critical benefits such as alarm reporting, better visibility into operations, and reduced costs. Based on the huge commercial success of this initiative, the client plans to expand their cloud-based IoT platform to other segments, such as facility cleaning.

For access to the complete engagement and more market insights, request more info.

Business Forecasting

4 Future Trends That Can Bring the Semiconductor Industry Back into the Spotlight

The semiconductor industry has been growing exponentially every year and offers a plethora of opportunities. But this year, the semiconductor industry is set to face a host of new challenges that will make it difficult for semiconductor manufacturers to grow at the same rate they have gotten used to over the past couple of years. Challenges pertaining to inventory management and the rising pressure to improve device architectures, reduce costs, and develop STEM skills in the workforce will inhibit the growth of companies to a certain degree. 

The inability of companies to keep up with the ongoing pace of IoT development is another factor that stops semiconductor manufacturing companies from growing in the industry. With the cloud economy becoming mainstream in the IoT era, semiconductor companies are facing the need to continuously innovate and drive connectivity across the IoT value chain. In such an era, they can gain more traction by offering comprehensive solutions beyond semiconductor solutions, which includes hardware design, and software and systems integration for applications and products.

At Infiniti, we understand the impact that innovative technologies and future trends can have on your business. And to help semiconductor manufacturBrochure CTAing companies excel in such a competitive landscape, our team of experts has highlighted the four most important future trends that can bring the semiconductor industry back into the spotlight.

Future Trends in the Semiconductor Industry

Future Trend #1: Artificial Intelligence

The rising demand for AI (artificial intelligence) based applications across various industries will create new growth opportunities for semiconductor manufacturing companies. AI will also bring improvements in the semiconductor market, by speeding up the manufacturing process, boosting the performance of the chip, reducing the cost of production, and increasing output. Furthermore, with the growing market for drone technology, 2019 may see the commercial rollout of AI-powered drones, globally. This is one of the future trends that can help the semiconductor industry boost its growth prospects.

Are changing market dynamics and growing demand keeping your business plans at a standstill? Request a free proposal below and access Request Proposalour full portfolio of market assessment solutions for the semiconductor industry. 

Future Trend #2: Autonomous vehicles

One of the significant future trends in the semiconductor industry is the onset of level-three autonomous vehicles on the road. The rapidly growing automotive market presents a huge opportunity for automotive semiconductors to support battery performance in EVs, enhanced sensors, increased connectivity, and other technologies.

Future Trend #3: Internet of Things (IoT)

The semiconductor industry is driving the growth of technologies like the Internet of Things (IoT). The IoT revolution has not only multiplied the demand for semiconductor chips but also shifted the value capture to software and solutions. To capitalize on this new market opportunity, the semiconductor industry needs to change application engineering, sales, marketing, and product development approaches and re-define monetization and go-to-market strategies. Such future trends can help semiconductor manufacturing companies to boost their profitability, marginally.

Future Trend #4: Digital supply networks

Today, digitalization is modifying supply chains in almost every industry. This modification is a shift from a linear, structured system to an interconnected, open, often cloud-based system that is able to combine information from many different sources. In order to improve the value of digitalization, there is a need for the semiconductor industry to take a look at emerging digital supply network technologies. This is one of the future trends that can help semiconductor manufacturing companies in solving traditional problems stemming from limited information transparency across the manufacturing and supply chain.

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5 Manufacturing Challenges Affecting CIOs of Manufacturing Companies in 2018

MANUFACTURING CHALLENGESToday, chief information officers (CIOs) of manufacturing companies are facing numerous changes that will affect the future growth prospects of manufacturing companies. Driving this change are a number of opportunities to grow and boost manufacturing processes. Though research shows that manufacturing companies will have ample opportunities to grow, CIOs will witness the advent of new manufacturing challenges that will compel them to change the way they look at strategies to improve the scale, speed, and simplicity of manufacturing processes.

At Infiniti, we are constantly in touch with manufacturers and hear first-hand about the issues they face. Since the manufacturing challenges are real, we thought we’d list out a few so that CIOs of manufacturing companies can devise effective business strategies to address them head-on.Get more info

Top manufacturing challenges of 2018

Boosting revenues

One of the biggest manufacturing challenges that CIOs face today is boosting their revenue growth with the technology systems that they already have in place. Manufacturing companies will have to re-strategize their production workflows to meet the demands of short production runs for existing products and streamline new product introductions.

Shortage of skilled workforce

With Baby Boomers exiting the workforce and taking their valuable manufacturing skills with them, new reports claim that more than three million manufacturing jobs will become available over the next 10 years. Manufacturing companies are already feeling the heat when it comes to filling the vacant positions and the impending exodus of Baby Boomers will only add to their growing tally of manufacturing challenges for this year.Get more info

 

Advanced technologies

Though new technologies are aimed at making life easier for all of us, that’s not always the case for manufacturing companies. Technologies such as IoT, industrial automation, cloud and edge computing, and robotics are advancing at a break-neck speed. And by the time IT teams of manufacturing companies adjust and get approvals for new technology installations, a better solution emerges. This rapid development and availability of new technologies will be one of the biggest manufacturing challenges of 2018.

Data security

One of the major manufacturing challenges faced by CIOs this year is ensuring cybersecurity. With advances in technology and advent of new platforms, the risk of data leaks has also increased. Today, hackers aren’t just happy stealing data, they want to extort money by holding the confidential data hostage. In the past year, Ransomware attacks have almost doubled, and manufacturing companies can expect more frequent attempts as they integrate more technologies into their manufacturing processes.Get more info

Regulatory changes

Risk mitigation and avoiding uncertainties are a crucial part of any business process. When manufacturing regulations change, the costs associated with the manufacturing process also ebbs and flows. Tax regulations and trade agreements keep changing with every news cycle and amendments to government regulations can wreak havoc for manufacturing companies. Manufacturing challenges in the form of regulatory changes is one of the major factors influencing the profitability of manufacturers. As a result, CIOs need to be on top of their game at all times and predict changes before time to remain profitable.


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competitive positioning

Top Trends That Will Make Smart Cities ‘smarter’

smart cityTechnology has always been a critical force deeply intertwined with the evolution of cities. From the first human settlements millennia ago to the industrial revolution to today, technological breakthroughs have impacted the buildings we use, the way we get around, and how we live, work, and play in the urban space. The concept of a smart city has been around for a while now. The advent of the Internet of Things (IoT) ecosystem of connected devices will further fuel the rise of smart city projects around the world. Furthermore, the current developments in IoT trends will prove to be revolutionary for smart city projects. In fact, we can expect the shipment of smart home devices such as safety and security systems, cameras, sensors, smart appliances like coffee makers, washiRequest Proposalng machines, dryers or any energy equipment, to increase two-fold by the year 2020. Here are our top picks of IoT trends that will change the face of smart city initiatives in the future:

Smart street lights

Energy efficiency is a major concern around the world today. Taking a cue from this, smart city projects are increasingly focusing on new ways to reduce energy consumption.   Smart street lighting networks are one of the IoT trends that can serve as a cost-effective entry point to IoT-based city solutions. Smart street lights help cut down costs and are energy efficient because they can be programmed to dim or brighten automatically and cut the risk of crime and traffic accidents. Copenhagen is one of the key examples of a metropolis that has implemented smart street lighting as part of a broader commitment towards smart city solutions.

Electric vehicle infrastructure expansion

Electric vehicles are expected to become mainstream in another few years. One of the major barriers for EVs is the lack of a refueling infrastructure. Some people view electric vehicles as less practical compared to gas-powered vehicles when considering that EV owners might only be able to recharge their car on their own property, provided they have a dedicated outlet installed. However, authorities are looking at providing incentives for residents who own EVs, and some offer incentives to residents and businesses that install EV charging equipment. However, many of the incentive programs focus on charging infrastructure at residential properties and not throughout the greater community.

Fog computing

Fog computing is the combined practice of cloud computing and edge computing. Cloud computing uses remote servers to store, manage, and process data, and edge computing refers to the resources and systems controlled by the end-user. Since smart city projects deal with a large number of connected devices and a large volume of data, there is immense scope for this mechanism. This massive data increase will also prove to be of great economic value to smart city stakeholders.

Expanding the smart grid

The energy saved from efforts such as smart street lighting can be invested in other technologies in the smart city. Smart street lighting provides a grid-based physical infrastructure that can serve as a foundation for delivering a range of other sensor-reliant services, such as vehicle and pedestrian monitoring, traffic light control, smart parking, real-time traffic-information, and waste management.


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IoT and Its Impact on The Public Transportation System

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Top 5 Smart Factory Trends in 2018

Efficiency, effectiveness, and economical. The 3 Es have guided the manufacturing industry for hundred of years and bringing about massive transformational changes. As hi-tech solution and automation pave the way in the modern economy, problems like worker fatigue and quality control will diminish. The smart factory, however, represents a leap forward from automation to a fully connected flexible system. The Industry 4.0 revolution along with IoT will enable factories to use a constant stream of data from interconnected operations and production systems to learn and adapt to new demands. The smart factory can integrate data across all the systems to drive maintenance, Request Proposalmanufacturing, digitization of operations, and inventory tracking. So what are the trends picking up in the smart factory across the world?

Industrial robotics

A new wave of factory automation is underway. Industrial robots are entering the manufacturing scene and creating value for companies. It is not uncommon to see robots outnumbering production workers in most of the smart factories today. The availability of collaborative robots has considerably reduced the overall costs and increased manufacturing flexibility for the companies.

Predictive maintenance

An unexpected breakdown can be very costly for a manufacturer and add to that the losses caused by the downtime. Smart factories enable predictive maintenance to be practiced that can alert manufacturers when parts that are prone to breakage. Many smart factories are now using IoT sensors to predict faults before they happen. The technology also has the capability to locate nearest service technician and map out the best route for the person to reach the premises.

Increasing use of AI

Artificial intelligence has been a hot topic in many industries. In a smart factory though, it plays a key role, by helping manufacturers predict demand patterns and optimally allocate resources. AI basically eliminates human guesswork and brings in cold and hard perspective of data into the equation. New cloud-based smart factory apps have emerged recently which comes embedded with AI and enables sophisticated decision science to be used to perform day-to-day work tasks.

Additive manufacturing

A lot has changed with the introduction of 3D printers. The parts once ridiculously expensive to manufacture can be done within minutes for few dollars with a 3D printer. In a smart factory, 3D printers are increasingly being used to make not only the prototypes but the final products as well. Such additive manufacturing creates an object by adding the material layer by layer as opposed to the subtractive manufacturing of drilling, cutting, and hammering materials away. Additive manufacturing opens up possibilities for mass customization from individual automobile parts to a pair of shoe.

Data visualization

Today data is easily available to managers. But how will they make sense of numbers to address issues and bottlenecks? Many inefficiencies often go unnoticed which have a dramatic effect on productivity. Graphical representation of data can help executives gain insights into challenges that lie in the production line. Data visualization assists even lower level employees to understand whats going on, and empower them to take decisions which can improve operational efficiency in a smart factory.

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Is IoT Flawless? Top Challenges in IoT that are Affecting its Future

Much of the world has been excited with the prospects of IoT and how it can change their life for good. It can literally change the way we shop, travel, and offer different consumer services. Such a giant interconnected network of devices and sensors paves way for advanced data sharing and communications. Imagine a scenario where you regularly top up your fridge with supplies and groceries. After regular consumption, you are out of milk, the refrigerator that’s connected to IoT notifies to your smartphone, and your smartphone directly places an order for milk. Within some time, the milk arrives at your door without you even breaking a sweat. The future looks promising for IoT with many more applications not only in the household sector but also in the industrial area. However, few challenges or issues need to be tackled to successfully embrace the future of IoT.

Challenges in IoT

Security

IoT has already garnered serious attention from tech firms and government agencies across the world for security reasons. Since all household devices are interconnected to IoT, it can be disastrous to consumers if their baby monitors, cars, cameras, or security systems are hacked. Such an act of hacking can cause severe damage to the society. Poorly designed devices can expose the user to data theft, leaving vulnerabilities exposed. Additionally, IoT deployments also consist of identical or near identical devices, and the sheer amount of such devices in totality can leave the question of security lingering. Adding security protocols will be costly and time-consuming, and the users will then need to consider the tradeoffs between cost and security with IoT deployment.Request Free Proposal

Privacy

There are certain things that are personal to an individual and they would like to keep it that way. However, since IoT is interconnected and each device shares information across the network, privacy can be of concern. Privacy is one of the biggest challenges in IoT. One would not like others to know information such as where they drove their car to, whom they call, what kind of media have they stored in their phone, and personal things they buy off the market. Additionally, since IoT relies on sensor data to enable automation, there is a feat that sensors and tracking device may actually spy on people. They can actually know what TV show a particular individual is watching and secretly transmit the data to a cloud service for processing. Such data collection and distribution exposes companies to legal and regulatory challenges.

Standards

Numerous companies are investing in IoT to develop devices that are compatible. It is then enabled by multiple network carriers, all of whom may have different protocols and standards. Achieving a standard is one of the biggest challenges in IoT as it can limit the potential of devices to communicate effectively throughout the network irrespective of device, manufacturer, and service provider. The absence of standards can enable strange behavior by IoT devices. Developers should design products that operate in disruptive ways on the internet, and poorly designed devices may not facilitate the smooth workings of IoT network. Standardization should flow not only in terms of design but also configuration tools, methods, interfaces, and protocols such as IPv6.

Regulations

Since IoT has a lot of scope to be abused and misused by unintended parties, regulations will be set by government authorities to curb such problems. Privacy and security issues will pose questions for the IoT technologies, and thoughtful consideration from law enforcement authorities is required to help control such issues but not hamper the development of the technology. Additionally, legal issues arise when the data is shared between two countries, surveillance and civil rights issues, security breaches, privacy lapses, and unintended uses.

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Technology Trends That Will Make You the Einstein Of Business

Gone are the days when robots were a thing of Sci-fi movies; robotics and artificial intelligence are the two new technology trends that are being adopted by many industries today. Technology trends have become so advanced today that they have made business processes much easier and faster. Here are a few breakthrough tecIR_Brochurehnology trends that are sure to take the business world by storm:

Human Dialogue with Artificial Intelligence

Several businesses have already employed chatbots that can converse with customers and handle their queries. But the intelligence of these chatbots is limited, which, in turn, affects the effectiveness of the process. However, new technology trends are all set to reform these setbacks as the investment made by companies in technological advancements and artificial intelligence is increasing. Companies are striving to develop intelligent technologies that will solve customer queries and make the customers feel like they are interacting with an actual human being.

Humanized Big Data

Technology trends such as IoT and Industry 4.0 are increasing the intelligence of the production equipment.  Today, advanced machinery is automatically able to send an alert regarding status and maintenance required. Big data is used to collect and analyze the data generated through various business processes. However, it is difficult to arrive at a concrete action guideline for a business decision from this data. The current technology trends aim to ‘humanize big data’ to be able to derive actionable insights and utilize them for decision making even by a non-data scientist.

Augmented Reality for Business

Augmented reality was introduced for enriching customer experience through a digital platform. However, now businesses are employing augmented reality into their processes to give employees a 360-degree view of the customers and various related attributes. Companies are striving to make various departments technologically advanced to help them undertake better business strategies.

Move Over Personal Assistants – Digital Assistants Are Here to Stay

With piling business appointments and tasks, it had become necessary for companies to hire personal assistants to keep an eye on these appointments and ensure a smooth flow of activities. But what if this can be digitally done by eliminating the cost of labor for a business? That is where digital assistants come into the picture. A digital assistant observes a person’s working method and learns to differentiate between the important and unimportant information and creates alerts for the same.

Insight Engines for Clever Search

Insight engine was the term coined by the market research company Gartner. They are referred to company-wide knowledge centers that link various information from internal and external sources of the business; this proactively provides relevant information for various business insights. More companies are investing heavily in this technology to enhance their decision-making processes.

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5G Technology

How is 5G Technology Shaping the Communication Trends?

Mobile technology has come a long way from facilitating communication to being an integral part of our lives. Mobile devices are used as a medium for content consumption and communication. However, that scenario is soon going to change with the much-hyped 5G technology.

This technology is not just an upgrade over 4G; it promises much more than just an upgrade. Over 1000 times increased data volume, five times reduced latency, up to 100 times faster data transfer speed, up to 100 times more connected devices, and 100% connectivity are some of the widely supported goals of 5G.

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Top Three Communication Trends in 5G Technology

5G and IoT Technology

IoT technology is dependent on the interconnectedness of multiple devices on one platform, and 5G technology provides just the right base for its success. Imagine getting notification form smart home cameras on your phone when a package is delivered to your doorstep. That’s precisely the kind of thing IoT and 5G technology together can achieve. Also, IoT devices will use narrow bandwidth to support thousands of things per cell or device, offer prolonged battery life, and provide deep coverage in challenging areas at a meager cost.

VR/AR Technology and 5G

VR and AR technologies are poised to be the ideal application for 5G technology due to its increased throughput, data transfer speed, and efficiency. The increasing popularity of AR and VR technologies is due to its ability to augment the user experience in activities such as online gaming, PlayStation, autonomous driving, and AR experience with the real environment.

Cloud Computing and 5G

The 5G technology will largely benefit the cloud computing industry along with various as-a-service models. The evolution of 5G is characterized by an exponential growth in traffic that can keep up with the demands of scaling possibilities in the mobile network. Extremely high transmission rates allow all infrastructure and storages to be shifted to the cloud. For instance, from a consumer point of view this could mean that you would be able to store all the high-quality content and 4K videos on the cloud and access it later without latency and performance issues.

To know more new communication trends, 5G network, IoT, VR, and cloud computing, get in touch with one of our experts.

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How Augmented Reality Can Change the Face of the Manufacturing Industry?

Manufacturing industries across the globe are increasingly adopting all the latest disruptive technologies of the 21st centuries including IoT, VR, automation, robotics, and big data analytics. Augmented reality is no exception to this statement. The outrageous success of Pokémon GO fueled the widespread acceptance of the augmented reality technology within numerous industries. The ability of this technology to augment digital information onto physical elements and objects has limitless possibilities in the manufacturing industry. It can also cut down operating costs and production downtime in addition to ensuring a smooth flow of operation.

Augmented reality in the Manufacturing Industry 

Helps with Complex Assembly
The manufacturing process has grown complex over time, requiring the assembly of hundreds and thousands of components in precise sequence. Missing any small component or the sequence could severely compromise the product’s quality. Augmented reality eliminates the use of documents such as instructions and dynamically projects all information on the field of view all the times.Contact US

Cut Down on Maintenance Time
Today, companies have to rely on the availability of the technicians for any maintenance tasks. Augmented reality can enable any person to do mechanical tasks by guiding them through 3D models to carry out the maintenance tasks. Additionally, it also eliminates the need for any maintenance manuals and displays the machine’s status in real time for timely maintenance.

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Supplement Market

Top 4 IoT Trends That Drive Smart Manufacturing

Internet of Things (IoT) is set to transform the way the manufacturing industry operates and functions. Smart manufacturing or advanced manufacturing technology is driving the companies to transform the competitive market landscape. Thus, making it inevitable for the companies to adopt smart manufacturing and seize the benefits it has to offer. Smart manufacturing coupled with IoT enabled devices is an aIR_Brochuremalgamation of information, human interface, and technology that helps evolve and develop every aspect of the business. IoT is an interconnected network of devices driven by connectivity and software that has brought the fourth industrial revolution – Industry 4.0.

Trend 1: Industrial Internet of Things (IIoT)

IIoT is the process of using IoT enabled devices and integrating it within the manufacturing processes on the factory floors leading to an increase in production efficiency, product quality, and speed. Purely built on connectivity, IIoT enables people and facilitates business processes to collect vast amounts of data and leverage advanced analytics to gain insights.

Trend 2: Cloud-Computing Technology

With the help of cloud computing coupled with IIoT, companies can reap the benefit of sharing important and critical information in real-time. The data shared from beacons and sensors help organizations to anticipate needs and predict trends, obtain required inventory details, and minimize turnaround time for machines as well as the suppliers and manufacturers.

Trend 3: Artificial Intelligence

Thanks to big data, vast amounts of information is available to the organizations, which can be leveraged to gain consumer insights, predict trends, and foresee market developments. With the help of machine learning, artificial intelligence helps organizations understand patterns, anticipate information, and track incongruities, which helps them to refine processes, enhance productivity, and adopt smart manufacturing techniques.

Trend 4: Smart Sensors and Beacons

The organizations can benefit with the help of IoT enabled sensors that will help them to record, generate, and understand information right from packaging to the core machine elements. Besides these, the IoT enabled sensors help the manufacturing industry to measure and track everything, right from volume to temperature; thereby, creating seamless information flow to facilitate automation and drive smart manufacturing.

 

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