Adding the Internet of Things (IoT) to existing industrial systems is already allowing companies to securely supply asset performance information, but the architecture is lacking a broader recognition of what has become possible and how this architecture can be used to really transform the industry.
A recent strategist report from ARC Advisory Group says IoT is not just another futurist trend. While intelligent sensors and devices, "Big Data" and analytics tools, and universal visualization capabilities have already driving trillions of dollars in economic growth for IoT, leading companies are making major investments for their industrial solutions, using catchy terms such as "Smarter Planet" (IBM), "Internet of Everything" (Cisco), "Industrial Internet" (GE) and "Industry 4.0" in Europe.
Software, hardware and automation companies are developing, or have already developed, industrial IoT solutions or IoT-enabled improvements in industrial production that reduce unplanned machine downtime and reduce energy costs.
Industrial manufacturers can see the benefits of connected products not only for their end-users but also for their own operations. This unique demand makes it critical for an entire organization to understand the importance of intelligent management of connected products.