Three ways to leverage IIoT
Scott Stone for Plant Engineering: The Internet of Things (IoT) will significantly alter manufacturing, transportation, distribution and other industrial sectors over the next decade, according to the World Economic Forum. We've only hit the tip of the iceberg in terms of the ways Internet-connected devices will transform these industrial sectors. To put a number on the anticipated growth of Industrial Internet of Things (IIoT) over the next few years, Accenture places conservative spending estimates at $500 billion worldwide by 2020.
Forward-thinking businesses are already leveraging the power of the IIoT and reaping the benefits. When used effectively, it allows companies to better manage their operation, increase production and transform business for the better.
Let's take a look at how industrial organizations should be harnessing IIoT to set their businesses up for future growth. Cont'd...
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It is a term to describe the future state of the economy, particularly manufacturing, based on the connectivity of everything, or the “Internet of Things” (IoT). This connectivity includes not only PCs and mobile phones, but also cars, manufacturing equipment and other devices.
Although Japan is said to lag behind other developed nations, a recent gathering discussed whether the country could thrive in this new economy.
A consultant, an IT service company president, an employee of the same company and a university professor, all of whom are Japanese, delivered presentations and discussed related issues at a symposium organized by the Keizai Koho Center, titled “The Future of Industry (Industry 4.0) and Japan’s Economic Growth,” in Tokyo on March 18. Full Article:
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