The Industrial Internet of Things (IIoT) can be simply understood as billions of industrial devices, whether machines in factories or engines on airplanes, fitted with sensors and connected to wireless networks to collect and share data. In addition, mobile communication, intelligent analysis and other technologies continue to be integrated into every link of the industrial production process, which greatly improves production efficiency, improves product quality, reduces product cost and resource consumption, and finally realizes the promotion of traditional industries to a new stage.
What problems can the Industrial Internet of Things solve for us?
1. Industrial Internet of Things can add to the economy
IIoT is already a huge business, and by comparison, it has great prospects in areas such as smart homes, healthcare and infotainment. Corporate spending on iot budgets varies widely: for manufacturers, systems that support production and asset management will be key; Freight monitoring and fleet management are at the top of the list for transport companies, while general industry spending will go towards building smart grids, gas and hydropower.
Industrial Internet of Things, also known as Industry 4.0, intelligent manufacturing, smart factory, etc., the power of technology is being felt throughout the industrial world and is fundamentally changing value chains and production methods. So much so, in fact, because the turbo-charging effect of smart technology allows factories to produce more at lower costs. Operating profits and margins could even double in some sectors.
The Internet is the foundation of the industrial Internet of Things. Manufacturing systems are using a variety of emerging technologies to connect devices, sensors, analytical tools and people. They are becoming more sophisticated and resourceful. Big data, robotics, machine learning, artificial intelligence, augmented reality, 3D printing, predictive analytics: it's all converging. With the higher level of control and oversight they bring, we can now build a "digital twin" of an entire manufacturing system, optimizing business performance by creating real-time profiles of physical objects or processes.
2. The Industrial Internet of Things is a beacon
The benefits of building and operating smart factories go beyond just producing goods. They include aspects of planning, supply chain logistics, and product development and innovation. Companies that do not adopt smart manufacturing technologies and practices risk being left behind, which is why we are seeing more and more factories globally showing the advantages of smart manufacturing.
So what is the factory of the future? The World Economic Forum has come up with a list of the nine smartest factories in the world and named them "beacons" to illustrate the benefits of the fourth Industrial Revolution. This means they have fully deployed smart technologies while putting people and sustainability at the heart of innovation.
Development prospects of Industrial Internet of Things
IIoT and IoT have similar parts. Consumer iot devices can be connected from smartwatches to smart speakers, as well as light bulbs, door locks and other smart home devices, and even shoes or clothing. But the Internet of Things is mainly focused on smart homes, personal health and connected car infotainment.
For now, the IIoT is still in its infancy, with a lot of experimentation and pilot work still to be done, and not many manufacturers have made significant investments. But as devices like sensors continue to get smaller and more affordable, especially as 5G networks become more widespread, interest in IIoT is likely to continue to grow.
