The manufacturing industry is undergoing a significant transformation, driven by the advent of digital technologies with traditional manufacturing processes. The Internet of Things (IoT) is one such technology that has become a game-changer for the industry. By enabling IoT in manufacturing industry, there is the facilitation of machines, devices, and sensors connected to the internet. It gives rise to smart factories and operations which transform the way products are made. IoT is helping manufacturers to improve their operations, enhance efficiency, and reduce costs by providing real-time insights into their processes.
According to Markets and Markets, the global IoT market in manufacturing is expected to grow to USD 87.9 Billion in 2026 at a CAGR of 11.9%.
Further, we will dive into the diverse use cases of IoT in manufacturing and understand how it is revolutionising the industry.
Use Cases of IoT in Manufacturing
Manufacturing industry leaders investing in IoT are gradually experiencing benefits, including efficiency and increased productivity. Hence, it is essential that IoT use cases will progressively expand in future. The use cases have surely become the most demanding Industrial IoT solutions for manufacturing.
Here are the top IoT use cases in Manufacturing which have varied benefits.
- Remote Monitoring
One of the most promising use cases for IoT in manufacturing is remote monitoring, as it has immense potential for manufacturing leaders. By using IoT-connected sensors, equipment usage and health can be monitored to assess performance and identify potential issues. It opens up new ways for businesses to adopt Equipment-as-a-Service models, where the focus shifts from selling products to offering services.
By implementing IoT sensors, manufacturing plants will be able to remotely monitor power consumption in real time throughout the production cycle. As a result, manufacturing-based businesses reduce energy costs through IoT-based monitoring of power usage for each machine.
- Predictive Maintenance
Machine operational and maintenance costs can amount to millions of dollars. However, timely equipment maintenance can prevent disruptions to production processes. By detecting potential downtime before it happens, manufacturing companies can significantly reduce their operational costs.
The IoT utilising sensors, data analytics, and cameras enables machines to predict and prevent failures. This type of predictive maintenance helps in strategically scheduling maintenance that can be implemented precisely when necessary.
By leveraging IoT, manufacturers can optimise their manufacturing processes with efficient, competent, and automated systems that eliminate the need for unreliable maintenance personnel. Thus, this leads to better-planned maintenance processes, significant cost savings, and reduced equipment failure, which extends the lifetime of machines. With such a crucial aspect of business, predictive maintenance has proved to be one of the core IoT solution for manufacturers.
- Logistics Management
Manufacturing companies face significant logistical challenges due to factors such as uncontrollable weather conditions, potential fraud, and the management of a large number of assets. To overcome these challenges, companies that rely heavily on transportation can consider IoT-based connection between various devices and systems. By implementing IoT applications for logistics, companies can address various use cases across the supply chain, from warehousing to fleet management and cargo tracking, thereby facilitating digital transformation.
Logistics managers can use IoT for repairs and fuel expenditures, optimising tasks such as monitoring fuel costs, smart deliveries, diagnostics, and drivers. Real-time data about driver and vehicle performance can improve technician safety, reduce inventory damage, and lower insurance payments.
- Digital Twins
Leaders who can effectively harness the power of IoT combined with Digital Twin technologies, such as Cloud, IoT, Extended Reality (XR), and AI, can benefit from in-depth analysis. The use of Digital Twins in manufacturing entails creating robust digital copies or virtual replicas of physical objects, which can be incredibly useful on the factory floor. By simulating processes and identifying issues with virtual replicas of equipment and spare parts, managers can achieve desired results without risking or damaging physical assets.
The digital twin offers operational data on equipment throughout its lifecycle that keeps the operations productive and efficient. It results in a reduction in commodity costs and onboarding for businesses.
- Manufacturing KPIs
Manufacturing companies heavily rely on Key Performance Indicators (KPIs) to measure their business performance. These quantifiable metrics are critical for manufacturers as they help them focus on what matters the most and track their progress over time.
One of the commonly used KPIs in manufacturing is overall equipment efficiency (OEE), which measures the factory's performance, availability, and quality. However, it is essential to use other KPIs in combination with OEE to get a more detailed understanding of business performance.
IoT-driven approaches can simplify the process of analysing KPIs by providing real-time data and reports, making it easier for businesses to track and optimise their performance. Having a KPI dashboard readily available ensures that the organisation stays focused and moves in the right direction.
- Connected Smart Operations
Manufacturers can establish intelligent networks by connecting their machines and equipment, which can communicate and coordinate autonomously with minimal human intervention. This capability enables organisations to collect and contextualise data from remote manufacturing assets and systems and translate them into actionable insights.
By providing proactive views of key performance indicators, this technology helps to identify problems quickly, leading to improved operational performance. In addition, IoT allows companies to link disparate operational data centres, resulting in real-time data visibility across various manufacturing systems.
Through IoT-enabled machinery, connected smart operations can be achieved to gain real-time insights for manufacturing stakeholders which enables them to manage factory units remotely.
Ending Note
There is no doubt that IoT is changing the game for the manufacturing industry. It enables manufacturers to optimise processes, reduce costs, and enhance customer satisfaction. From remote monitoring to manufacturing KPIs, IoT is helping manufacturers to streamline their operations and achieve exceptional levels of efficiency and productivity.
Smart manufacturing, enabled by IoT-driven data analytics, has become essential as global market and industry dynamics are gradually persuading manufacturers to reevaluate their operations. With increasingly connected equipment systems, an ever-growing volume of data is being generated, offering the limitless potential for critical and valuable actionable insights through IoT.
As manufacturing industry solutions continue to evolve in terms of IoT, it is going to play an increasingly critical role in driving innovation and competitiveness. The use cases of IoT in manufacturing are diverse and impressive with the potential to achieve a lot in future.
As per the recent prediction, the number of connected devices will cross 46 billion globally by the year 2021.
These devices will make the world more connected than ever while strengthening the concept of IoT (Internet of Things).
In the past few years, various core sectors including the thriving manufacturing industry have witnessed the rise of Industrial Internet of Things (IIoT) technology.
Many manufacturers have started investing in industrial IoT in manufacturing to leverage its benefits based on IT-driven smart solutions.
Advancing IoT technology can play a crucial role in this transformation along with other emerging technologies.
IIoT can not only enhance efficiency but also open the doors of new opportunities for manufacturing companies.
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