Growth in Industrial IoT driven by cost, efficiency and safety requirements

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Lux Research, in a new report titled “Defining the Industrial Internet of Things” argues that cost, efficiency and safety requirements are driving growth in the Industrial IoT (IIoT) as companies across the globe, across industries, look to boost connectivity at the workplace. The research firm has classified connected assets into four categories – equipment, people, goods, and environments.

Lux Research has given examples of how companies are making use of IIoT. Daimler has utilised PINC Solutions' RFID-based systems to gain 99% trailer yard accuracy and 50% reduction in trailer move time in its 1.3 million square foot plant in Saltillo. Equivital facilitated health and safety with a deployment of its IIoT systems at a chemical plant. The company’s EQ-02 LifeMonitor features a wearable that workers carry around their chests, which has brought about a substantial reduction in rate of injury at this plant.

Isaac Brown, Lux research analyst and lead author of the report, said: “In cases ranging from wearables to real-time location systems in large yards, vendors like Equivital and PINC Solutions are establishing a clear value proposition in the quest to find viable business cases. Goals range from employee safety to simple efficiency improvements in asset management – but users need to remain cautious about practical obstacles to proving this value in real operations.”

Meanwhile, Sight Machine has aided an apparel manufacturer in ascertaining underperforming factories, optimising processes and recommending a more effective preventive maintenance schedule. This has been facilitated with the collection and analysis of real-time data at multiple factories.

You can find more about the report here.

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