The Internet of Things (IoT) is transforming business models around the world. This technological revolution has impacted the manufacturing sector more than any other field.
Manufacturers using IoT integrated machines have already started experiencing improved productivity and revenue in their business.
Some Interesting Facts
Below are some interesting facts about IoT in the manufacturing sector:
- IoT has enabled manufacturers to experience a 28.5% increase in the average revenue
- By 2020, manufacturers will spend over $267 billion on IoT
- More than 50% of the new business systems will incorporate some IoT element by 2020
How IoT Works for the Manufacturing Industry?
IoT integrated equipments provide valuable real-time data that allows manufacturers or machine operators to make informed decisions.
- Sensors collect the data from the machine and send it forward to the cloud
- The data is passed to the quality monitoring system
- The analyzed data is sent to the end user
IoT for the Manufacturing Industry
IoT allows manufacturers to create autonomous networks to help improve the manufacturing process while staying as cost-effective as possible.
Here are some important benefits of IoT for manufacturing:
1. Greater Energy Efficiency: Collect and understand the energy consumption data right down to the device level. Find underperforming devices and make adjustments to boost their efficiency.
2. Enhanced Forecasting: Receive real-time data about assets and production processes. Track all parameters to know the time to replace certain components.
3. Better QA and Product Quality: Collect aggregate product data and syndicated data from various stages of a product cycle. Analyze and correct quality issues at any stage.
4. Reduced Downtime: Sensors immediately detect problems and alert the staff, and minimizing the associated downtime cost.
5. Faster and Informed Decisions: IoT unlocks critical data about performance and provides those insights to appropriate recipients.
Want to reap the benefits of IoT in your manufacturing business? Let’s talk.
We at Imaginovation help businesses achieve their true value by providing award-winning IoT development services.