The predicted growth of the IoT market in manufacturing is unprecedented. At the moment, Markets and Markets researchers predict it to reach $13.49 billion by 2020. Just to give you some perspective, in 2015 the value of this market was estimated at $4.11 billion. The main IoT technology applications in manufacturing revolve around enhancing connectivity and automation. The main goal of this tech is to maximize the efficiency of the manufacturing process while minimizing its costs. The benefits of utilizing digital solutions in this industry are a great motivation for the developers as seeing what has already been achieved prompts them to see how far they can push these solutions.
The most important benefits, no doubt responsible for such a tremendous growth of the IoT manufacturing industry, include:
Boost in Work Efficiency
Constant improvement of the manufacturing operation is one of the main goals for any industrial business owner. Implementing IoT technology on any level of the manufacturing allows to:
- Automate the production process, or some of its steps
- Pre-test new ideas and designs (using a combination of advanced modeling and testing solutions)
- Analyze the production process and identify its strengths and weaknesses
- Save time and money for the business by increasing the efficiency of both the production line and employees
- Monitor the manufacturing business performance at all times, analyze the data, and use this information for accurate predictions
Steady Improvements in Performance
The most important benefit of the contemporary IoT solutions is their ability to improve constantly by simply ‘doing their job’. The AI that governs them is usually programmed to process data collected during the manufacturing process and optimizing that process based on it.
As the system is regulated by the AI developed specifically for it, the efficiency and accuracy of these changes and advancements are greater than any settings set by man. However, making manual adjustments is possible and this will add another layer to the machine’s betterment. The intuitive operation systems of today will memorize the most effective patterns in the production process and find a multitude of ways to achieve or even improve those results. They will do this with utmost accuracy and speed. Utilizing these particular solutions can make even a small manufacturing business into a big player on its market.
Creating the Perfect Environment for Innovation
Manufacturing facilities reigned by IoT technology are extremely flexible. This means that the business owner is able to integrate new solutions quickly and boost the production process’ efficiency right away.
Most importantly, implementing this technology allows to step away from the traditional linear production process. This, in turn, leads to the creation of more efficient singular production cycles organized into a cohesive system that can adjust to the change in manufacturing demand immediately. Such a scheme allows for the most efficient use of resources.
This kind of ‘cluster’ manufacturing also enables the owner to monitor the entire system more easily. One can determine where an issue occurs and have other sectors pick up the slack if possible. In any case, this scheme allows making quick and more accurate fixes for any problems.
Allowing for Predictive Maintenance
Predictive maintenance is a very efficient method of cutting the manufacturing costs. It is exactly what the name states, a maintenance based on predictions. It’s a step up from preventative maintenance as it’s more effectively targeted.
Predictive analytics drive this solution and allow you to maximize the equipment output while minimizing the costs for its maintenance. Note that using such technology also helps you save money you would have lost due to the manufacturing process stopping.
The IoT for the manufacturing industry develops extremely fast with dozens of solutions released for any kind of business. Embracing this technology now can not only give one an edge over the competition. With the high popularity rate of this tech, not using any of these solutions is sure to marginalize the business.
Adam Flamberg is a consultant at DO Supply.