What’s the Industrial Internet of Things (IIOT)?
There are numerous growth markets in the digital age, with the industry surrounding the Internet of Things (IoT) offering a relevant case in point.
This global market, which was worth an estimated $157 billion two years’ ago, is set to achieve a global value of $457 billion by the year 2020 and will continue to grow long into the future.
A key driver of this industry is the Industrial Internet of Things (IIOT), which includes numerous technologies that utilize connectivity to improve manufacturing and logistical processes. Here are three prominent examples:
- Smart Robotics and Automation
Given that the IIOT is founded on the notion of driving efficiencies and reducing costs, it stands to reason that it should be linked directly to automation.
It certainly drives smart robotics, which leverages predictive maintenance and uses connected sensors to monitor robots and execute repairs before components break.
This technology highlights the evolution of automation in fields such as manufacturing, with the formative robots of 60 years ago designed to undertake simple and repetitive tasks.
Through the application of smart robotics, companies can use robots more efficiently in the future and achieve even greater financial savings.
- The Combination of the IoT and Augmented Reality
Interestingly, the heavy-equipment maker Caterpillar has long served as an IoT pioneer, with several long-term investments in this technology beginning to bear significant fruits.
The company has focused heavily on the combination of IoT and augmented reality technologies, which enables machine operators to visualize metrics such as airflow and fuel levels in real-time.
As a result, they can instantly recognize potential faults and schedule maintenance ahead of time, boosting efficiency and reducing the cost of repairs in the long-term.
This technology is also popularising sensor-driven analytics in manufacturing, which enables businesses to make further savings on purchasing and shipping new components.
- Self-driving Tractors in Agriculture
While the field of agriculture is not synonymous with innovation and technological advancement, it has benefitted considerably from the IIOT in recent times.
John Deere remains a key innovator in this space, with the firm has invested heavily in the application IIOT and emerged as a true pioneer in GPS technology.
The best embodiment of this exists in the form of self-driving tractors, which were designed and manufactured long before Google began experimenting with autonomous vehicles.
These tractors currently use the most advanced GPS systems known to man, which are accurate to two centimeters and capable of navigating vehicles safely and efficiently.