Source | industry.siliconindia.com
Industrial Internet of Things (IIoT)
The Industrial Internet of Things (IIoT) refers to the extension and use of the internet of things (IoT) in industrial sectors and applications. Though IIoT is a technology that has seen many turns in the past, it is still continuing to evolve and create new value for industries, especially manufacturing 4.0. With the outcome of smart devices, sensors, transmission systems, the IIoT value chain continues to grow giving IIoT a whole new scope of functionalities altogether.
“Digital Twins are expected to enhance the training processes in manufacturing plants for new or existing employees”
Consider some facts that have come to light in the past couple of years. It is estimated that 60 percent of global manufacturers will use analytics data tracked using connected devices to optimise manufacturing processes. Close to USD 70 billion will be invested by manufacturers in IIOT by 2020. If used optimally, IIOT can help the manufacturing sector reduce product development and assembly costs by 50 percent. These are some staggering statistics only because IIOT will find application in virtually every domain of the manufacturing industry starting from facility management to inventory management to enhancing quality control, increase plant safety and security to optimize the logistics and supply chain of a plant.