Thanks to the extensive availability of broadband Internet, applications of the Internet of Things (IoT) have become more widespread. Particularly in the industrial world, the IoT has emerged as a promising solution and has proven its versatility. At present, more and more companies are adopting IIoT platforms to create smart machines and connected equipment. And it is believed that by 2020, industrial IoT applications will make up to 50% of total IoT spending.
Manufacturers and industrialists in every sector are exploring the unlimited opportunities that industrial IoT has to offer. From manufacturing to the retail sector, IIoT solutions are being utilized not only for monitoring but also to automate complex processes. Although there are endless applications of Industrial IoT, here we’re going to discuss the top four applications and use cases of industrial IoT.
1. Predictive Maintenance
Managers across industries use sensors, cameras, and data analytics to determine when a piece of equipment may fail by quickly assessing its current conditions and identifying warning signs. With the help of this information, managers can take preventive maintenance steps to avoid issues in the future. When businesses get access to the right information at the right time, maintenance work can be better planned. The timely maintenance of machines and equipment results in increasing the lifespan of machines, enhancing plant safety, and of course, boosting productivity.
2. Logistics and Supply Chain Optimization
The Industrial IoT is widely used for monitoring activities across a supply chain. It tracks inputs, equipment, and products to offer real-time information which can be used to identify interdependencies. RFID tags and other sensors play a vital role in tracking inventory as it moves around the supply chain. When everyone has linked with the supply chain-from plants to the suppliers get connected, it helps in helps in forecasting potential issues. The manufacturers get a clear understanding of work progress and can set realistic timelines for material availability.
3. Better Facility Management
Many machines and equipment are designed to work under specified temperature and vibration ranges. Businesses use IoT sensors to monitor machines actively and send an alert whenever the temperature changes or machines stray from their prescribed conditions. The IoT-enabled sensors are used to monitor temperature, humidity, or other parameters prescribed for machinery. The manufacturing facilities use the obtained data to minimize the operational costs by ensuring that the machines work under the prescribed working environment. And this translates into energy conservation, cost reduction, preventing machine downtime, and increased operational efficiency. Moreover, RFID tags are used to monitor facilities, which provides insights to optimize space usage better.
The big companies and manufacturers have already embraced IIoT on a big scale to cut costs and increase competitiveness. Businesses that have to deal with transportation are also exploiting the benefits of IIoT by managing their fleet. The shipping industry has adopted IoT into its fleet management to reduce the risks associated with vehicles and minimize the cost of transportation and staff. To improve efficiency and productivity, companies use real-time traffic feeds to deliver packages more efficiently.