Manufacturers transforming into digitalization for their factory growth, one question that arises how they can prepare themselves for the changes to become continual for digitalization. Manufactures don’t want to unnoticed in the competition so, they are nowadays investing and accelerating with new technologies. Among all technologies, IoT is most favorite due to its analytical approach and optimization possibilities. Almost 60% of global manufacturers seeking for analytics data tracked to connect effectively.
Major driving force towards manufacturing market is the need for centralized oversee and maintenance of manufacturing infrastructure. The increasing need for control and demand-driven supply chain, agile production, connected logistics are also driving the market.
Do you know the projected manufacturing market size growth by 2020? I know the figure is a surprise for many enterprises out there, it is USD 45.30 Billion. Requirements fulfill by IOT for the manufacturers are tremendous—regularity, scalability, performance, security, availability, and interoperability; helping enterprises to be stable and productive.
Five important embellish stages improved by IoT are:
- Connected factories: A digitally connected enterprise will connect with a better line of commands and help identify key areas easily.
- Production monitoring: Real-time monitoring help to understand the loopholes and lags in production timely with no waste as the end-product.
- Facility management: Implementation of sensors with working machinery help to conserve energy, reduce costs, downtime and increase in operational efficiency.
- Inventory management: This part is very important, and ROI can be directly depending on it. In the value chain, it can help in cost reduction.
- Supply chain optimization: Tracking is easy due to big data analytics so we can predict issues early and reduces inventory (capital requirements).
IOT is an emerging technology opening the possibility to increase capabilities and leading to more cost efficiency and higher production. Approachable frameworks cutting the barriers for all the enterprises and open various gates for success.
If you are interested in finding out more about IoT and how IoT is a solution for scalability and performance to make a difference in your bottom line? Click on to our manufacturing services and contact us today to find out more.