IIoT- The Rise of Connected Devices in Industry
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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