Executing Industrial Internet of Things (IIoT) solutions is vital as the most competitive global manufacturing companies are becoming digital enterprises. Industrial Internet of Things (IIoT) solutions and platforms are leading the reshaping and transformation of landscapes. A pre-built Industrial Internet of Things (IIoT) solution offers the benefit of a ready-made “IoT development kit” with the flexibility to meet business-specific needs. A modern solution provides support for application development tools comprising low-code applications that can link departmental silos so that the business can accelerate innovations. This factor is likely to fuel the Industrial Internet of Things (IIoT)
The next generation of connected industrial robots will have the ability to work under human directions, and will eventually understand and learn from the surrounding world. The features, along with lower costs are likely to result in extensive deployment of robots in the industrial environment. Collaborative robots are expected to reshape manufacturing processes, helping businesses to regain their competitive edge. Thus, demand for the deployment of advanced robots in the manufacturing industry for warehouse management, inventory management, supply chain management, etc. will provide an opportunity for the growth of IoT in the industry.
Hardware such as sensors has proliferated, without which IoT solutions cannot be implemented. Many IoT devices rely on multiple sensors to monitor data. According to a report published by BI Intelligence in 2014, the cost of these sensors declined by 50%. Moreover, a study conducted by Ericsson on the Internet of Things in collaboration with DI Digital, signifies that the cost of sensors in 2014 with respect to 1996 has dropped by 95%. As the need for sensors in manufacturing processes is increasing day by day, decreasing the cost of the sensors will further act as a supporting factor for the growth of the market.
Key Features of IIoT (Industrial Internet of Things) Solutions