IIoT gives manufacturers the need for speed they want in their production line combined with the digital transformation that enables them to brace themselves for the future.
The use of smart sensors and access to real-time analytics is why IIoT has also earned its stripes as “industrial internet” or “Industry 4.0.”
Industrial IoT lets manufacturers automate their production and shop floor processes, therefore optimizing their operating efficiency. Automation and robotics provide precision and accuracy that the traditional machines can’t offer—leading the factory plants to achieve unprecedented productivity and huge profit margins.
Implementing an IoT-based predictive maintenance strategy puts your overall efficiency on autopilot and helps you identify downtime patterns, synthesize real-time data across all systems, and monitor machines in areas that are hard for humans to intervene.
According to a McKinsey survey, the use of predictive maintenance is shown to reduce maintenance costs of machines in manufacturing companies by 20% and bring down unplanned outages by up to 50%.
Over time, the timely report and analysis on a machine’s health can extend machinery life by years and yield better ROI.