The use of IoT in manufacturing industries is called IIoT. It involves the integration of machinery with a network of software and sensors. IIoT plays a major role in improving profitability by reducing human intervention and eliminating risks associated with machine failures.
The IIoT provides better insight regarding equipment used by companies, combining machines with analytics. IoT with asset performance management software can provide details regarding the importance of each piece of equipment to avoid failures. It helps reduce downtime and improve efficiency. It also provides a clear picture of effective equipment maintenance that helps optimize maintenance schedules and cycles.
Major Fields of operation of the IIoT include:
Technavio Announces the Publication of its Research Report – Global IIOT Market 2016-2020
Technavio recognizes the following companies as the key players in the Global IIOT Market: Cisco, GE, IBM, Intel, Rockwell Automation and RTI.
Other Prominent Vendors in the market are: Accenture, ARM Holdings, AT&T, Broadcom, Google, Honeywell, Huawei, Robert Bosch, Siemens and Zebra Technologies.
Commenting on the report, an analyst from Technavio’s team said: “Shift from IPv4 to IPv6 is one of the latest trends in the market. IPv6 makes the management of networks easier and offers improved security features. IPv6 can transmit more data and has a simplified, efficient routing compared to IPv4.”
According to the report, one of the major driving factor in the market is increased data generation using IIoT. Many connected devices are used in various industries to generate high-volume data. Companies use the data for cost optimization and revenue generation.
Further, the report states that data privacy is a major challenge in any organization due to the presence of many connected devices and the use of private and public networks. Increased connectivity and data sharing have created cybersecurity issues and data breaches.
Cisco, GE, IBM, Intel, Rockwell Automation, RTI, Accenture, ARM Holdings, AT&T, Broadcom, Google, Honeywell, Huawei, Robert Bosch, Siemens, Zebra Technologies.