The Industrial IoT is driving economic growth

 The Industrial Internet of Things (IIoT) is revolutionizing the manufacturing industry, with companies that adopt these technologies set to see significant gains in efficiency and productivity. According to a report by Accenture, the adoption of IIoT could increase the Gross Domestic Product of the U.S. alone by more than $7 trillion by 2030.


But what exactly is the IIoT and how is it driving this economic growth? The IIoT is a flexible concept that encompasses technologies such as sensing, networking, and communications, and combines them with computing and analytics. This enables solid connections between a factory's operational technology (OT) systems and the enterprise information technology (IT) domain. It is the critical enabler for companies to achieve digital transformation and is the essence of the fourth industrial revolution.


One of the key elements of the IIoT is the use of smart, digital sensors that can be deployed in large numbers to monitor almost any parameter in an industrial environment or process. These sensors can monitor things like motor speed, vibration, and inspection data, giving manufacturers a wealth of data to analyze and use to improve their processes.


Wireless networking technologies, such as point-to-point and mesh networking, also play a key role in the IIoT by allowing the connection of large numbers of sensors with minimal additional cabled connections. This makes it easier to install and maintain the sensors and helps to ensure that the data they collect is reliable.


The Industrial Internet of Things (IIoT) is revolutionizing the manufacturing industry by providing businesses with the tools to monitor equipment and processes in minute detail, analyze data, and identify patterns that would otherwise be impossible to detect. This is driving economic growth by increasing efficiency and productivity, leading to potential GDP increases of over $7 trillion in the U.S. alone by 2030.


IIoT technologies include smart, digital sensors that are affordable to deploy, wireless networking technologies, communication protocols such as Open Platform Communication Unified Architecture (OPC UA), low-power IC technologies, and high-performance computing, all of which work together to connect factory operational technology systems with enterprise information technology systems.


One of the key benefits of IIoT is the ability to monitor equipment and process performance continuously, which enables businesses to identify opportunities for improvement, fix problems, and improve manufacturing performance. This is achieved by capturing vast amounts of machine parameters, settings, adjustments, and environmental data, and combining them with other types of data such as operator IDs.


Another benefit of IIoT is intelligent condition monitoring, which captures data about the operation of individual pieces of equipment, such as machine tools, to identify when adjustments or repairs may be needed. This allows for predictive maintenance, avoiding unplanned downtime and associated expenses such as lost production and emergency repairs.

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