Applications and Trends of Industrial IoT in Manufacturing

It is well known that the main technological fields of Industrial IoT encompass sensor technology, network interconnection technology, information processing technology, security technology, edge and cloud computing, among others. The rapidly developing technological areas include:

1. Data Collection from Equipment and Environment — From Point to Global

The IoT + Smart Manufacturing model: Normalizes data standards and, through protocol conversion, enables the unified collection and upload of data from devices of different brands and various environmental data to the same database. This allows for comprehensive analysis of all operational data and environmental data of the equipment in the same database.

2. Equipment Failure and Maintenance — From Passive to Proactive

The IoT + Smart Manufacturing model: Analyzes and compares operational data of equipment to predict potential failures in advance, inviting maintenance personnel from relevant manufacturers for replacements, and scheduling a two-hour proactive shutdown to minimize failure losses.

3. Reducing Maintenance Costs and Operating Risks

The IoT + Smart Manufacturing model: Allows operational data of equipment to be uploaded directly to the backend platform remotely, enabling targeted inspection arrangements, significantly reducing after-sales service costs; simultaneously, operational data can be analyzed on the platform for optimization, extending lifespan and reducing risks.

1. Digital Twin In manufacturing, defects and flaws in finished products increase costs and burden workers. Digital twins replicate products under development digitally. The industry modifies sensors to collect data about the entire operational process of their products and the performance required for each module. Managers can use the data obtained from the digital copy to assess the accuracy, performance, and reliability of the system. They can also detect potential inefficiencies in the products, helping to create better versions. Finally, digital twins simplify asset management and error management processes. They enable industries to predict baseline integrity and effectively meet deadlines.2. Smart Metering Thanks to IoT, smart meters for tracking water, electricity, and other fuels have also been introduced in manufacturing, energy, and other industries. IoT sensors allow businesses to assess specific usage and implement best practices for more efficient resource allocation. Small manufacturing plants can utilize customizable end-user analytics provided by industrial IoT companies to thoroughly analyze the effects of smart meter monitoring. They can also compare the prices, efficiency gains, and carbon footprints of various resources to integrate them appropriately into their advanced manufacturing processes.3. Supply Chain Management Globally, IoT devices monitor and track inventory management systems. Industries can track their supply chains by obtaining accurate data on existing resources. It contains information about ongoing work, equipment selection, and the due dates of required projects. Furthermore, IoT devices eliminate the need for manual reporting in operations and introduce Enterprise Resource Planning (ERP). They provide cross-channel insights to management and assist stakeholders in assessing the current situation. It reduces companies’ capital expenditures due to mismanagement and lack of research.4. Smart Packaging By integrating IoT sensors into products and packaging, manufacturers gain valuable insights into consumer habits and how goods are handled by different consumers. Product degradation during transportation, as well as the impact of weather, routes, and other environmental variables on products, can be tracked using smart tracking mechanisms. This provides information that can be used to redesign product packaging for better outcomes in consumer service and, in some cases, to reduce packaging costs.

According to a report by MotorIntelligence, the market value of the manufacturing IoT (IoT) was $175.3 billion in 2020 and is expected to reach $399.08 billion by 2026, growing at a compound annual growth rate of 14.76% during the forecast period (2021-2026). Over the past two decades, as the demand for traceability and transparency has increased, companies have begun to make the processes involved in their product manufacturing transparent. Data collection and analysis through industrial IoT devices have enabled manufacturers to achieve seamless connectivity throughout the entire process.

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