Top IoT Trends Driving Growth In Manufacturing Business-IoT Solution Provider

The Internet of Things (IoT) technology is expanding and making a profound impact in manufacturing and related industries these days. With advanced capabilities, IoT solutions for Manufacturing allow manufacturers to work with high efficiency, profitability, and safety than ever before. Today, enterprises can transform their entire business model into an innovative and more productive one with the integration of IoT technology. When it comes to bringing automation into the manufacturing assembly line and integrating digital transformation solutions in the manufacturing sector, IoT is the best technology solution to meet these objectives in a faster way.

The global manufacturing industry is being transformed by IoT often referred to as Enterprise or Industrial IoT (IIoT). Today, manufacturers are more focused on ways to control costs and maximize production capacity with IIoT. However, this potential technology also offers powerful capabilities to develop new, customer-oriented products and build service-based business models around those products.

To sustain in the fast-growing and agile competitive market, manufacturers are impelled to adopt IoT solutions for digital transformation in their strategy. The real value of business information empowers enterprises to identify new business models beyond just manufacturing.

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Top Five IoT Trends in the Manufacturing Industry

To realize the full value of business data generated at the IoT platform, leading enterprises are integrating IoT technology with Robotic Process Automation (RPA) and Artificial Intelligence (AI). It allows them to address the challenges of processing and analyzing a large volume of information and acting upon it promptly at the right point in the value chain and network. Following are trends IoT is bringing to change the manufacturing industry:

1.Strengthen supply chain

The combined power of IoT and ERP enables manufacturers to make their supply chain more traceable and efficient. Through IoT-enabled devices, supplies of goods can be tracked at all times. Sophisticated ERP solutions such as ebizframe equipped with IoT technology are successful in analyzing and sharing data through all levels of an enterprise. This enables company leaders to improve their supply chain collaboratively with better decisions.

2.Optimize energy consumption

Industry experts are already viewing IoT as the next-generation solution for helping manufacturing enterprises reduce energy costs. As most of the manufacturing and related businesses are highly energy-consuming, they need to adopt IoT-based real-time monitoring systems that help them optimizing energy usage, reducing costs as well as pollution.

3. Automated visual inspection

Quality assurance monitoring can be done remotely and automatically with the help of Industrial Internet of Things networks. As a result, manufacturing businesses can greatly improve their productivity and efficiency. Using AI-driven visual inspection solutions coupled with IoT technology, it is possible to detect defective products and remove them from assembly line before they proceed to the next stage of production.

4.Predictive Maintenance and Analytics

Predictive maintenance is one of the most popular Enterprise IoT trends. It is beneficial for increasing the life cycle of assets and reducing maintenance costs. IoT system collects high-quality data across a wide network of machines in a manufacturing facility. This data is used by machine learning algorithms to identify machines that need to be scheduled for maintenance.

5.Amplify ERP capacity

Enterprise IoT backed with advanced technologies such as Business Intelligence (BI) can amplify Enterprise Resource Planning capacity and open up new opportunities for manufacturers. The data from any process, facility or object is collected at an IoT platform and transmitted directly to an ERP system that facilitates real-time data process monitoring. It is beneficial for enterprises to analyze and realize the true value of their crucial data.

Internet of Things has already become an integral part of smart manufacturing in the Industry 4.0 Era. Today, combined with other innovative technologies, IoT is making automation and analysis easier and more cost-effective for all scales of enterprises across countries. With its high potential, this technology is progressing further and creating new avenues in the manufacturing sector.

Also Read : Key Industries Driving Digital Transformation with IoT in 2022-IoT Service Provider-ESS