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IIoT- The Rise of Connected Devices in Industry

Published By : IndustryARC | Published On : 2016-06-24
The IIoT is one of the major revolutionary technologies that have become a significant trend lately. This technology will drastically change the manner of user-machine interaction and machine to machine communication. IoT has been absorbed in various sectors; however, one of the most relevant sectors is the industrial segment; the IoT in industries has been modified to Industrial Internet of Things. Industries like healthcare, automotive, energy and many others are welcoming IIoT with open arms.
 
Industrial Internet of Things (IIoT) is a concept that refers to the bridging of all the machines or equipment present in the industrial ecosystem. This concept includes usage of big data, machine learning, and machine to machine communication; thereby including all the automated mechanisms in the processes. IIoT has the potential to fill the gaps in the proficiency, performance of any industrial processes and gain better results in terms of revenue, output and productivity.

The network for IIoT comprises of devices connected through sensors, embedded electronics, and software and network connectivity. The number of these devices increased from 12.45 billion in 2010 to 13.4 billion in 2015; this number is estimated to get doubled by 2021.

IIoT is capable of developing smart prototypes like smart power grids, smart homes and smart healthcare among many others. The IIoT has the potential to develop new manufacturing environment that can be run by self-governed automatic machines.

The concept of IIoT has given birth to fourth generation of industrial revolution- Industry 4.0. This concept will take the industry by storm and reconfigure the entire industrial ecosystem. This fourth generation revolution will use internet and web-enabled software capable of handling large volume of manufacturing data; the face of future manufacturing.

The Industrial Internet of Things is likely to have a bright future; according to a recent study conducted by IndustryARC, the global IIoT market is forecast to grow at a CAGR of 21% through 2016 and 2021.

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IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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