Technology is slowly but unquestionably transforming the way we conceptualize and implement things in the manufacturing industry. The manufacturing operations are utilizing smarter advanced equipment however the quantity of silo data collected by linked and other devices are making data collection and interpretation an intimidating task.
IoT, otherwise called Industry 4.0 [ in the context of manufacturing production] is bringing in the much needed active change in the operational fineness and innovations by making a world that integrates connective technology, the big data and the cloud; a realm where better and faster decisions can be made at a moment’s notice. When you break it down, it means that through Internet of things, smart manufacturing captures and sheds light on all available info, all the way from the plant floor to the other stages of the supply chain, in real-time.
Market research results show that 55.0% of discrete manufacturers are piloting, researching, or in the middle of production with IoT initiatives.
Furthermore, survey forecasts that the worldwide IoT market will grow to $3.04 trillion in 2020 from $1.3 trillion in 2013.
The statistics tell the truth that is factual; according to a survey conducted by TATA Consultancy, manufacturers using IoT solutions in 2014 experienced an average increase of 28.55 in revenues in between 2013 to 2014.
In fact, Business Insider market research speculates that global manufacturers will invest approx. $70 billion on IoT solutions in 2020 and the first and foremost motivation for implementation here is the difference to the bottom line.
Making change discernable
The talk around IoT always includes two points of observation – first one, is connectivity and the second one, real-time. In one of GE Durathon battery plants, more than ten thousand sensors collect crucial info like the humidity, air pressure and temperature, all in real time and this allows the enterprise to keep watch on the status of the production of each battery.
Perhaps the best part of the smart manufacturing is that it gets rid of the time gaps in data dissemination to different teams within the company thus leading to a total optimization of production.
From one to many
One of the most noticeable aspects of the smart manufacturing technology is the capacity to take stock of greater than just one factory at a time. Internet of Things increases the conspicuousness of each step in the process making it simpler to control what occursacross diverse factories at different locations.
The latest management systems allow the organizations to establish factory operations in diverse areas of the world, all the while allowing for much advanced control of the critical processes.
With smart manufacturing, manufacturers can allocate a digital identity to all of their physical assets that permit them to collect applicable info on location, condition and efficiency of each, at any given time. Fundamentally, this simplifies the procedure of taking manufacturing outside the origin- country but without compromising on quality.
Even though it’s at an initial stage, more manufacturers are going to find more complex applications for IoT, especially in fields like AR and AI.