Iot and IIoT has made it a long way in the past several years. In fact, according to Forbes, trillions of dollars are at stake as the Industrial Internet of Things rolls out over the next decade. But, has the multi-tillion dollar trend lived up to the hype?
It could be many more years until certain industries reach the levels described in the hype. Here’s the industries you should keep your eye on when it comes to IIoT technology.
The Internet of Things and the Industrial Internet of Things (IoT and IIoT, respectfully), widely encompasses many concepts, technologies, and products, but can generally be described as:
- A system that contains wired or wirelessly connected components which relay data that can be analyzed or used to control an output of the system
- A network that allows for automated information exchange between two devices
- A vision where any and all systems are connected to gather masses of data that will lead to overall improved performance, insights, and control
As of 2018, we most commonly see IoT being used for location tracking, remote monitoring, and preventative maintenance. Yet, for IIoT the most common application is preventative maintenance. Many of these IIoT systems report back to a control interface, and are not completely automated control loops that are self-evaluating or self-improving.
There are some industries in particular that stand out when looking at the IIoT. We looked at trends that will progress through the end of 2018 into 2019, and asked the following questions.
- What industries will be most affected by IoT solutions?
According to BI Intelligence, the ‘Manufacturing’ and ‘Transportation and Warehousing’ industries have received the highest amount of investment in IoT to date. These investments, totaling $230B between the two industries over the past few years, will continue to drive impressive progress in the development of IoT solutions.
- Who will be the key players in IIoT Solutions in 2019?
We are currently witnessing a race to capture the IIoT market. AT&T is collaborating with Honeywell, Verizon offers a machine-to-machine (M2M) management platform called ThingSpace, and startups like Uptake Technologies are raising absurd amounts of capital to compete with existing analytics giants. Uptake alone has raised $218M since 2015, and specializes in analytics of complex data sets.
Nearly all of the corporate giants you would expect to have a stake in the race are putting serious resources behind their efforts. GE is offering Predix, and end-to-end Industrial IoT Platform, and has incorporated capabilities like Predix Edge to allow for edge computing within the platform. Siemens offers their own Industrial IoT platform called MindSphere, and Bosch is also getting in on the action now offering their IoT Suite publicly available on AWS Marketplace. Further, Schneider Electric developed WonderWare and SAP offers Hana.
We expect that through 2019 we will see more partnerships develop, offering cross compatibility between the many platforms which are available today.
- What further developments in IIoT can we expect in the near future?
Security will continue to be a major focus for all providers and users of the IIoT. In a recent publication Steve Watson, CEO of VTO Labs, explains “security and specifically the ability to detect compromised nodes, together with collecting and preserving evidences of an attack or malicious activities emerge as a priority in successful deployment of IoT networks.” This ability to detect and preserve evidence of a cyber-attack will not only need to occur through edge computing, but it will also need to be maintain its integrity with interoperability of different systems that are linked together.
Given the amount of investment we are seeing in the ‘Manufacturing’ and ‘Transportation and Warehousing’ industries we expect to see many breakthroughs in both cyber security for the IIoT and interoperability between the many IIoT platforms. Looking into 2019 we can expect to see more partnerships between major sensor providers and network providers, such as the AT&T Honeywell collaboration we saw in 2018. With more interoperability and collaboration, 2019 may be the year that we see the major breakthroughs in IIoT we’ve been expecting.