Nitesh Arora, the head of marketing at Cloudleaf, reveals the benefits of the divide and conquer approach to digitally transforming complex enterprise operations
Global adoption of industrial IoT hardware, connectivity and services is soaring. In fact, over the next few years, investment in IoT technologies will experience a whopping 15.6% CAGR worldwide, reaching projected spending of US$1.29tn by 2020. Nowhere is this more true than in the manufacturing sector, where the IoT is helping enterprises to digitally transform their legacy plant operations. The potential benefits are compelling, including near-zero downtime operations, sixsigma certified product quality, and streamlined asset maintenance. To put things in perspective, manufacturing related IoT spending alone, accounted for US$178bn in 2016 – more than spending in transportation and utilities, combined.
It’s understandable, therefore, that the manufacturing sector is keen to embrace IoT in order to take advantage of obvious benefits. These include addressing the challenges of total cost of ownership (TCO), competition, complexity and risk, but increasingly, early-movers are also using it as a vehicle for generating growth and as a hedge against increasing global competitive pressures. According to Vernon Turner, an IoT research fellow and senior vice president at IDC: “investments by China and the United States in IoT solutions is driving these two countries to account for double-digit annual growth rates and over half of the IoT spending.”
On paper, this all seems perfectly reasonable and straightforward, but in practice, manufacturers are finding that adoption is a relative and loaded concept. Implementing IoT across the enterprise ecosystem in one fell swoop is a tricky business and better left to larger, well diversified outfits able to absorb front-loaded costs and risks. Instead the trend is in smaller compartmentalised industrial IoT (IIoT) implementations that solve a narrow set of business challenges, rather than trying to boil all oceans at once. By adopting a disciplined implement, measure, optimise and replicate approach, manufacturers are able to take short manageable sprints towards solving industrial process automation challenges in a scalable and purposeful way.
The promise of IoT to provide powerful cross-boundary visibility, real-time monitoring and granular control across the entire manufacturing value-chain of people, assets and workflows, is generally well understood. But the real challenges are the next step: How do manufacturers choose an IoT provider? How do they execute? And how do they measure success, scale growth and replicate their gains? Cloudleaf was founded to specifically answer these questions and provide solutions that elegantly solve real-world business problems in manufacturing and distribution, pharma and life sciences, and other process automation industries. Our solutions are designed to simplify the manufacturing processes and solve emerging asset and workflow challenges in a measurable, value-added and sustainable way.
Increasingly, we are finding that manufacturers are investing in IoT technologies that bolster their manufacturing operations management (MOM), enterprise asset management (EAM) and predictive maintenance (PdM) capabilities. In fact the push right now is to get a better understanding of all the assets, processes and skilled labour in play on the plant-floor and at the operational level of the enterprise. […]
The post Enterprises look to monitor, manage and optimise the IoT ecosystem appeared first on IoT Now – How to run an IoT enabled business.
Read more here:: www.m2mnow.biz/feed/Posted on: January 17, 2018