After Smart Home and Smart City concepts, the advent of IIoT (Industrial IoT) has completely changed the global IoT scenario. On one hand, IIoT drives the fourth wave of industrial revolution, and on the other hand, it contributes significantly to the unprecedented surge in the number of connected devices worldwide.
As per Statista report, most of the industrial sectors will record four to six times growth in spending on Internet of Things worldwide till 2020. As per another survey, the IIoT market is expected to reach $320B by 2020. The major reason behind this massive increase is- companies have started utilizing the IIoT to collect, aggregate, and analyze data to maximize efficiency and enhance productivity. The IIoT not only bring automation through machine learning but also establishes better synergy among machines to optimize output.
Spending on Internet of Things worldwide by vertical in 2015
Here we take ten leading industrial sectors with use cases in which IIoT technology can work wonders:
- Agriculture- Smart farming becomes a reality as farmers have started implementing sensors to get the real-time data about soil composition, weather, air quality, water level, etc. Though countless acres of farmland is still out of reach for IIoT, the farming sector offers a lot of opportunities for this technology. IIoT can help farmers monitor all the operations ranging from harvest to market delivery. In a way, the sector remains a perfect use case for IIoT concept.
- Manufacturing-IIoT deals with three major aspects of the manufacturing sector- efficiency, productivity, and safety. It assists manufacturers to unlock the potential of machines through automation and increased operational efficiency. It is easy to optimize production while ensuring enhance the safety of workers with IIoT implementation. Now, this is what we call smart manufacturing!
- Retail- IIoT can increase supply chain efficiency thereby improving the customer services. Also, it plays a significant role in reshaping the customer experience by initiating and managing new services. In other words, retailers can improve the shopping experience of their customers, and the retail sector can be a great beneficiary of IIoT. There is no exaggeration in saying that IoT is a future of retail.
- Energy and Natural Resources- Better management of resources and improved distribution are the obvious outcome of implementing IIoT in the energy sector. Many connected devices gather and share information in real time to enhance the efficiency of the power grid while improving security and reliability. The IIoT is capable of transforming the energy landscape into more powerful and customer-centric field.
- Automotive- The smart car is not far away as the automotive industry has initiated the implementation of IIoT on a large scale. Driverless cars are in trial phase, and soon, we will see the cars that can turn data into actionable insights thanks to IoT. The new age of autonomous driving is about to begin as the IoT developers are busy in creating immersive experiences like voice recognition, self-parking systems, and display improvements.
- Healthcare- Data Analytics, machine learning, and AI are not new terms for the leading hospitals. Altogether, the IoT technology assists the healthcare professionals to treat the patients with a critical condition in a better way. What’s more, telemedicine can also be implemented with IIoT. It is easy to get, store, and analyze the valuable patient insights in the real time through an IoT implementation.
- Real Estate- After smart homes, we have smart buildings now. Be it a commercial or a residential building, the IoT can take better care of the priorities of builders, realtors, and owners. The IoT implementation in the real estate sector can significantly improve the operational efficiency and overall experience of the property owners.
- Transportation and Logistics- Connected fleet can make transportation and logistics sector intelligent. The IoT integration can enable transporters to address age-old problems like safety of drivers and passengers, inefficiencies in managing assets, missing deadlines, etc. The IIoT for transportation can improve fleet management as well as logistics and supply chain.
- Aerospace- The Aerospace industry can create highly reliable and integrated systems with the help of industrial IoT. Re-installation and configuration of tactical communication systems, as well as delivery of command data with 100 percent accuracy, can be achieved by implementing of industrial IoT in the sector.
- Insurance- Insurance providers reward customers for maintaining healthy and safe life. For example, if the customer does not file a claim within a stipulated period, the provider may reduce their rates for the next term. IoT can help providers in adjusting rates. Auto and homeowners insurance providers can take the benefits of IoT to the fullest. However, other insurance types can also leverage the advantage of this concept.
Well, that’s it for now! But, it does not mean that the IIoT has only these many use cases. This technology is capable of changing the way the industries operate.
However, implementation of IoT at your workplace requires utmost care and precision. Apart from protecting the employee’s privacy, you need to use authorized identities for the enhanced device and data security. What’s more, the backup plan should be at a place and there must be a common dashboard for adding any new devices at your office. All such precautions would assist you to make the most of a revolutionary IoT technology while offering your employees a safe and pleasant user experience.