Key Trends significant to IIoT

Manufacturing is on the crossover of a revolution all over the world. Advancements in technologies are not only making manufacturing effective, but also enabling the work to be “Smarter”. Technologies, based on the IoT, are growing exponentially and are becoming more efficient and significant in industries such as Manufacturing, Healthcare, Energy, and Retail. The IoT has created a new wave of transformation for manufacturers over the past decade.

By 2020, Frost & Sullivan estimates nearly 12 billion devices in the manufacturing world are expected to be connected via advanced machine-to-machine (M2M) based technology.

The market research has identified some of the key trends significant to IIoT:
1. Industrial Mobility
2. IoT gateways
3. Smart Sensors
4. Big Data Analytics
5. Virtual and Augmented Reality
6. Manufacturing Cloud
7. Additive Manufacturing

A number of leading manufacturers such as Bosch, Siemens, and General Electric (GE) are early adopters of smart manufacturing. However, today, a number of niche companies namely Waygum, GainSpan, Splunk, and so on are leveraging the technology and making advancements in the industry vertical. A key to successfully migrate into IIoT is to ensure high productivity and efficiency at reduced costs. Innovative evolution and digitization have driven new and different applications of IIoT, especially in the manufacturing vertical.