Industrial IoT Market Nears $132 Billion in 2020: Technavio
Pedro Hernandez for Datamation:  The Internet of Things (IoT) is expected to have a major, efficiency- and productivity-enhancing impact on how manufacturers and other companies in industrial settings conduct businesses. A new forecast from market research firm Technavio paints a rosy picture for IT vendors that specialize in industrial IoT.
According to the analyst group, the market for industrial IoT software and services will reach nearly $132 in 2020. Between now and then, the market will expand at a compound annual growth rate (CAGR) of 7 percent.
In terms of demand, Technavio has identified the Asia-Pacific (APAC) region as the largest market for industrial IoT.
Last year, the industrial IoT market generated $38 billion in sales in the region, a number that will reach $54 billion in 2020. APAC countries are investing heavily, including South Korea, which plans to pour over $3.6 billion into the IoT by 2020. Â Cont'd...
Nobilia uses IoT to create smart factory
Kitchen maker Nobilia has rolled out IoT and automation systems in its German factories to enable real-time tracking of furniture as it progresses through the manufacturing process.
The company, which has distribution in Australia, is using Beckhoff automation technology that is powered by Intel processors.
A barcode that is attached to furniture is encoded with details including processing steps, components required to be added to complete it, and logistics information such as where the finished product is to be delivered.
“Each processing machine scans the barcode and retrieves the associated machining data from a central database. Data connecting the whole factory together makes it possible to produce 2700 kitchens daily,” Intel said in a blog post.
“Through real-time tracking enabled by Intel IoT technologies, Nobilia knows exactly where each part is in the production process at any time.
“If one of the manufacturing lines shuts down, parts are automatically rerouted to another line.”
Study Finds 34% of Manufacturers Do Not Track Asset Data
Smartware Group, Inc. and Technology Evaluation Centers, Inc. survey highlights missing link between maintenance practices, software capabilities
Industry 4.0: What businesses need to know
By Barclay Ballard for ITProPortal: In order for businesses to prepare for Industry 4.0, they first need to understand the technological driving forces behind it, including the Internet of Things. Although mainstream examples of IoT devices are relatively limited at the moment, in the future connected objects are expected to revolutionise a whole host of business sectors. In the same way that new manufacturing processes brought about huge upheaval during the Industrial Revolution, the Internet of Things is also predicted to bring wholesale changes to industry.
“The Industrial Internet of Things (IIoT) has been described as a crucial step in the Fourth Industrial Revolution or Industry 4.0,” explains Martyn Williams, managing director of industrial automation software expert, COPA-DATA UK. “Using IoT technology, organisations are developing smarter infrastructures and building connected networks across entire manufacturing processes.”
Some of the key changes predicted to emerge as the Internet of Things is adopted by industrial firms include the following: Cont'd...
Japan Embracing Industry 4.0 And IoT To Leap Into Next Industrial Automation
The challenge ahead is that not only manufacturing technologies will change drastically but the whole business environment, in which Japan may have to strive to overcome other than IoT super next generation automation.
Standalone Li-Ion UPS from Bedrock Automation Sets New Performance and Cyber Security Standard for Industrial Control System Backup
Bedrock Automation announces availability of a cyber secure, standalone Uninterruptible Power Supply (UPS) for PLC, DCS, PAC and SCADA RTU applications
Telit IoT Factory Solutions Enable Quick Path to Industrie 4.0 Era
Scalable Platform Supports IIoT Deployment within Factory and to the Cloud
Blending Robotics and Employees: A Manufacturing Success Story
Fall-Protection Leader SixAxis Thrives with Innovative Practices
Rethink Robotics Announces Major Distribution Partnerships in Germany
World-Class Automation Providers Freise Automation and HAHN Robotics to Deliver Sawyer Robot to German Manufacturers
Smart Factories Need Smart Machines
Industry 4.0 Smart Factories and Smart Machines continue to drive dramatic efficiency improvements across the supply chain, within the factory and inside machines.
ManufacturingTomorrow.com launches its Online Trade Magazine
Following a soft launch in January, www.ManufacturingTomorrow.com has officially launched its Online Trade Magazine.
Boy, do Fanuc and Cisco have a deal for your factory
Fanuc and Cisco Systems are set to commercialize a technology this summer that promises glitch- and disruption-free factory operations. The Internet of Things-based system monitors machinery and spots signs of possible abnormalities so that parts can be replaced more smoothly and without affecting operations.
A one-minute suspension at a car factory generally costs around 2 million yen ($16,900). If, for example, a gear breaks and operations are halted for 60 minutes to replace it, the costs would be 120 million yen. Frequent line stoppages could also affect product quality.
The Fanuc-Cisco system uses sensors attached to each robot carrying or welding parts to monitor temperatures, vibration and other conditions. Data streams are sent via the Internet. A computer analyzes the data and decides which parts will likely need fixing and when. The system also places orders for replacements. The accuracy of the system's prediction and analysis functions will increase as data accumulates, representatives from the companies said. Cont'd...
CHGT Finds Niche Helping Large Manufacturers Streamline Their Production Processes
"Were discussing ways CHGTs capabilities and expertise can help them greatly improve their current inefficient production methods,"
2016 U.S. Manufacturing Trends from Michigan Manufacturing International (MMI)
With 25 years of experience in manufacturing and international trade, MMI is ideally suited to partner with U.S. manufacturers to help them take full advantage of the winds of change while avoiding the resulting storm.
MIT Professional Education's Online Course to Bring Latest Research on Internet of Things to Professionals
Led by MITs original architects of the Internet of Things (IoT), the new course addresses architectures, technologies and applications of IoT
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