The Industrial Internet of Things (IIoT) is a subset of the Internet of Things (IoT). The IoT connects computers, devices, and vehicles equipped with software and sensors that transmit and exchange data over the Internet. It lets people access and control many of these objects remotely, storing information in the cloud so they can share it with end users.
The IIoT is essentially the IoT for industry sectors including manufacturing, energy, transportation, aviation, and logistics. The ability to access and use data faster gives industries and towns real advantages. They can put this combined knowledge to work for better products and better service to communities. Examples include expanding on-demand services, creating smarter buildings, and providing better healthcare.
Experts estimate IIoT will be worth over $120 billion by 2021 and $12 trillion by 2030.
The two main IIoT categories are Industry 4.0 and the Industrial Internet Consortium. Industry 4.0, the fourth industrial revolution, covers manufacturing only. The Consortium, founded in 2014, includes more industries.
The advantages of IIoT
IIoT will expand the following abilities across industry sectors:
- Connectivity, because businesses can share more information. Workers, customers, and business strategies all benefit, because every part of the business can help every other part. Better connectivity means better business decisions.
- Scalability, because businesses share resources and information across the network.
- Cost savings, because of the ability to better address safety and repair issues.
- The creation of new business models that improve productivity and analytics.
- Better supply chain efficiency.
The IIoT should also help industries meet and exceed green energy goals.
Practical IIoT issues
Industries need standard technology protocols to communicate with each other. Just because devices can speak with each other doesn’t mean they are compatible. Compatibility cannot come at the price of security. MQTT (Message Queueing Telemetry Transport) is becoming an IIoT standard because experts view it as a secure platform. Open-source platforms are helping create these standard protocols.
Get to know how IIoT is transforming the ways industries do business
IIoT is more than an option if your company operates in manufacturing or another industry sector. It offers real ways to cut costs and open new opportunities. For many businesses, it will become a necessity as more industries participate. Contact Volico for clear guidance on how IIoT works and how it can benefit your business. Ask for one of our experienced IIoT consultants.
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