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What is Industrial Internet of Things?Internet of Things no more needs any introduction. When these IoT capabilities are implemented in the Industrial and Manufacturing space, it becomes Industrial IoT. This technology is an amalgamation of different technologies like machine learning, big data, sensor data, M2M communication, and automation that have existed in the industrial backdrop for many years. Industrial Internet makes a connected enterprise by merging the information and operational department of the industry. Thus improving visibility, boosting operational efficiency, increases productivity and reduces the complexity of process in the industry. Industrial IoT is a transformative manufacturing strategy that helps to improve quality, safety, productivity in an industry. |
Evolution of IIoT
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Advantages of Industrial IoTIndustrial Internet of Things brings along lot of advantages some of them are listed below:
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Drivers of IIoT
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Industrial Internet of Things: The Magic wand for the EconomyThe endless unfolding of new technologies have added up to a huge list of the “Next Big Thing”. However not every evolving technology has the potential to break through the business and social landscape. McKinsey Global Institute has identified some of the important technologies that can create economic transformations. One of them in the list is IIoT. McKinsey estimated that IoT will have a potential economic impact of up to $6.2 trillion by 2025. It also has the potential to drive productivity across $36 trillion and operating costs across multiple industries, including manufacturing, health care, and mining. |
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