The manufacturing industry is consistently showing drastic improvements in the market by implementing various technology applications like IoT in its processes. The Internet of Things (IoT) is expected to see a booming development in its productivity by 2025. The IoT in manufacturing has a plethora of solutions that incorporate the advantages of cognitive computing, data analytics, and platforms like Watson Internet of Things to ensure efficiency in operational management in businesses.
Today, most of the new machinery and equipment designed for manufacturing purposes already have IoT sensors in them. Siemens Electronics, a popular manufacturing company in Germany, has implemented IoT automated systems and computers in 75 percent of their manufacturing processes. In the IoT system of Siemens electronics, the production department is able to communicate with the machines through product codes which track and navigate the production process. Due to the implementation of IoT applications in the whole production processes, the suddenly emerging mistakes and risks can be easily reduced.
Cisco, Microsoft, IBM, Intel, and SAP are some of the companies that have implemented IoT applications in their manufacturing processes. Cisco, an important example for the beneficiaries of IoT and connected devices, has outsourced the production plants worldwide. The company has implemented a new system called VMES (virtual manufacturing execution system) to have more visibility into the manufacturing processes. These technologies like IoT, cloud, and big data enable an organization to collect data from the machines and predict quality and efficiency capacities in outsourcing.
All the data collected by the connected devices will then be used for analytics, and it provides valuable insights to improve the manufacturing processes. AI and machine learning support the manufacturing department with the IoT systems. Thus it gives a massive technological integration in production.
According to the market research by the IoT Analytics, 33 percent of revenue increase can be shown in the market by the smart devices used in manufacturing, 11 percent increase in the quality of the product, and 22 percent increase in the customer satisfaction. From the data collected from around 600 organizations, 97 percent of the organizations agree that IoT is an essential technological application in the manufacturing, and 83 percent among them have already implemented IoT-enabled devices into their manufacturing processes.
In a nutshell, the IoT takes manufacturing into a greater level of efficiency with higher improvements in the productivity that support the organizations to achieve more profit and overcome the competitive challenges.