Manufacturing
The IoT can realize the seamless integration of various manufacturing
devices equipped with sensing, identification, processing,
communication, actuation, and networking capabilities. Based on such a
highly integrated smart cyberphysical space, it opens the door to create
whole new business and market opportunities for manufacturing. Network
control and management of manufacturing equipment, asset and situation
management, or manufacturing process control bring the IoT within the
realm of industrial applications and smart manufacturing as well. The
IoT intelligent systems enable rapid manufacturing of new products,
dynamic response to product demands, and real-time optimization of
manufacturing production and supply chain networks, by networking
machinery, sensors and control systems together.
Digital control systems to automate process controls, operator tools and
service information systems to optimize plant safety and security are
within the purview of the IoT. But it also extends itself to asset
management via predictive maintenance, statistical evaluation, and
measurements to maximize reliability. Smart industrial management
systems can also be integrated with the Smart Grid, thereby enabling
real-time energy optimization. Measurements, automated controls, plant
optimization, health and safety management, and other functions are
provided by a large number of networked sensors.
The term industrial Internet of things (IIoT) is often encountered in
the manufacturing industries, referring to the industrial subset of the
IoT. IIoT in manufacturing could generate so much business value that it
will eventually lead to the fourth industrial revolution, so the
so-called Industry 4.0. It is estimated that in the future, successful
companies will be able to increase their revenue through Internet of
things by creating new business models and improve productivity, exploit
analytics for innovation, and transform workforce. The potential of
growth by implementing IIoT may generate $12 trillion of global GDP by
2030.