Internet of Things (IoT) is transforming industrial business solutions. This connected technology has captured our homes and offices and is now transitioning into our factories, warehouses, farms, and transportation hubs. There are expected to be more than 64B IoT devices worldwide by 2025. The world calls it Industrial IoT (IIoT), and this technology is surely going to change the way we conduct business and run industries.
As per market predictions, the global industrial IoT solutions market is expected to reach 933.62 billion Dollars, by the end of 2025. Such rapid market growth predictions make it clear that this new technology is quite promising. These numbers are surely exciting, and I am sure will push you to consider the possibilities of integrating IoT-based products for your business. Let us understand how IoT-based solutions can help in business growth, so that you can realize the maximum profits.
What is Industrial IoT?
Industrial IoT solutions require widespread digitization of operations and real time management of deployments. Consumer products, durable goods, cars and trucks, industrial and utility components, sensors, and other everyday objects are being combined with Internet connectivity and powerful data analytic capabilities that promise to transform the way we work, live, and do business. The four primary pillars of an IoT infrastructure are:
• Machines equipped with sensors and software to track and log data.
• Robust cloud computer systems that can store and process the data.
• Advanced data analytics systems to analyse the data collected from systems, informing about process improvements and operations.
• Adept employees, who put these insights to work and ensure proper operations.
Benefits of Industrial IoT
IoT solutions are equipped to make consistent impacts in the domain of each business. With watchful tactics and strategies, adoption of IoT-based products and solutions can bring in better profitability and ROI for businesses. The main revenue driver for 54% of enterprise IoT projects is cost savings.
97% of organizations feel there are challenges to creating value from IoT-related data. By harnessing IoT and advanced analytics technologies, businesses can:
• Increase productivity and uptime
• Improve process efficiencies
• Accelerate innovation
• Reduce asset downtime
• Predictive Maintenance
• Real Time Data Management
• Smart Metering
• Enhance operational efficiency
• Create end-to-end operational visibility
• Improve product quality
• Reduce operating costs
• Optimize production scheduling
• Improve overall equipment effectiveness
• Remote handling of devices
• Energy efficiency
The Future of Industrial IoT
Industrial IoT solutions are turning the industry of the future into reality. Be it materials handling, manufacturing, product distribution, crop management, energy management, touchless solutions, or supply chain management. Businesses will continue to be automated in the years to come. By embedding connected systems, devices, and sensors into business processes, organizations can improve existing operations, as well as produce more effective business models and be environmentally sustainable.
The best way to adopt Industrial IoT solutions and services is to hire a proficient IoT service provider. The hired company can enable you to understand your IoT integration requirements, enjoy the benefits of IoT services and overcome the challenges, thereby boosting your return on investment.
EnergyBots, offers powerful IoT products and solutions with established business models that help in enhancing productivity and operational superiority while accomplishing environmental sustainability. To know more about how IoT can benefit your business area, connect with the team of experts at EnergyBots, and make the most of this trending niche technology.