What You Need To Know About Industrial Internet Of Things

What You Need To Know About Industrial Internet Of Things

If you’re reading this, I assume you’re either an industrial IoT enthusiast or an investor in the industry.

Either way, you’re probably looking for the latest news and updates about manufacturing with the Internet of Things. Or maybe you’re even considering making the leap and trying out a B2B product from a leading vendor in the space.

Whatever your reason for being here, you’ve come to the right place. We’ve got the latest news and industry insights on what you need to know about the industrial IoT industry.

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Recent Developments In IoT

Since the beginning of this year, the IoT sector has been abuzz with activity. New products and features are introduced to the market every week, and it can be hard to keep up with all the developments.

However, with increasing demand for connected devices and B2B offerings, there are signs that the industry is also maturing.

Here are the top four recent developments to keep an eye on.

1. The Maturation Of The IoT Sector

One of the prominent features of the first half of this year has been the maturation of the IoT sector. After a string of false starts and over-hyped product launches, the industry is ready to prove its value to manufacturers and enterprise clients. This is evident in the rising number of closed beta trials and successful go-to-market strategies across the board.

This trend is also visible in the number of innovative products and the widening range of potential use cases for IoT. From smart homes and factories to transportation and logistics, the industry has finally started to deliver on its promise.

The connected home is one of the most prominent use cases for the IoT. Thanks to technologies like the Internet of Things, managing and tracking your home is now possible. You can automate your lights, appliances, and locks and watch and track your home’s performance in real time via online dashboards.

Luxury brands have been leading the way in adopting the IoT, with several luxury clients testing out their own ‘Homegrown Hacks’ to improve their homes. These include integrating security cameras, temperature sensors, and water leak detectors. The list goes on.

2. The Evolution Of The Cloud, Mature Data Centers, And Big Data

When the cloud computing industry began, it was seen as a temporary home for data and applications. However, as the sector matures, it is beginning to look more like a permanent and essential part of business operations. Enterprises are adopting cloud-based infrastructures to store their precious data and applications and achieve greater efficiency and growth. This trend is evident in the increasing number of global hyper-scale data centers.

These massive data centers house a business’s computing and storage infrastructure. They’re also where their apps are running, so companies must ensure they have the best possible network and power supply to run their operations smoothly.

As a business owner, you need to know where your data and applications are stored, who has access to them, and what security measures are in place to prevent leaks or thefts. This is where the cloud computing sector makes a significant difference. Thanks to tools like Google Cloud and Azure, maintaining and scaling a cloud-based infrastructure is a piece of cake. You can spin up new servers and increase capacity whenever you want. Plus, the likes of Amazon Web Services and Microsoft Azure are global in nature, with coverage worldwide. So, even if you’re based in a small country, you can still benefit from the convenience of the cloud.

3. Virtual Reality And The Rise Of The Metaverse

Another area that has seen a lot of development activity is virtual reality. Thanks to the growing maturity of virtual reality headsets, such as the Oculus Rift and HTC’s Vive, manufacturers, developers, and businesses can offer VR experiences to consumers.

These experiences are usually tailored to individual needs and provide a way for people to escape from the digital grind for a while and enter a different world. VR allows people to experience places, events, and businesses they might not normally get the chance to.

It’s not difficult to see why VR is popular for enterprise and consumer use cases. The technology is still relatively new, and it is not currently possible to create VR content and experiences that can be accessed on all devices. This restriction will likely be addressed as the technology matures, and it will become easier for users to access content and applications on any device.

4. The IoT Economy And The Future Of Production And Manufacturing

One of the major concerns for any business owner or manager is the future of production and manufacturing. What, in 2022, is going to make my product? How am I going to get it made? Who will I negotiate with?

The growing popularity of the IoT and the maturing of the sector mean that you can expect to see more and more devices and applications connected to the internet. This connectivity will only increase the demand for connected products and those who create them. Enterprises will want to work with manufacturers who can provide bespoke products that meet their needs. So, as demand increases, so too does the cost of production.

However, while the cost of production will undoubtedly rise, the advantages of having connected devices in the workplace will prove invaluable. The IoT stays here, from automatically controlling factory and production lines via embedded devices to having real-time visibility into operations and efficiency via online dashboards. And it is changing how we will all operate soon.

Why Is IIoT Gaining Popularity?

Industry 4.0 conjures up visions of automated, smart, and just plain ol’ smarter factories. And while many may see 4.0 as futuristic, the industrial internet of things has been evolving since the mid-2010s.

What is the industrial internet of things? Simply put, it’s the digital integration of physical things that were initially siloed off in separate industries, like manufacturing and agriculture, into the digital economy.

Smart factories, for example, leverage computer-aided design (CAD), remote monitoring, and control through the internet of things to bring digital design and optimization to the manufacturing floor. These smart factories eliminate costly errors, streamline workflows, and improve efficiency. They also allow for the collaboration of designers, engineers, and manufacturing staff across organizational and geographical boundaries, resulting in innovation and quality assurance.

Soon, every industry will have a digital thread.

About the Author

Tom Koh

Tom is the CEO and Principal Consultant of MediaOne, a leading digital marketing agency. He has consulted for MNCs like Canon, Maybank, Capitaland, SingTel, ST Engineering, WWF, Cambridge University, as well as Government organisations like Enterprise Singapore, Ministry of Law, National Galleries, NTUC, e2i, SingHealth. His articles are published and referenced in CNA, Straits Times, MoneyFM, Financial Times, Yahoo! Finance, Hubspot, Zendesk, CIO Advisor.


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