The Industrial Internet of Things (IIoT) is poised to significantly improve reliability, production, and customer satisfaction. Initially focusing on improving existing processes and augmenting current infrastructure, IIoT will rely upon as well as integrate with certain key technologies, devices, software, and applications.
However, IIoT is part of a broader trend towards the transformation of industry as part of a fourth industrial revolution (e.g. Industry 4.0) that involves more than just manufacturing. IIoT is poised to transform many industry verticals including healthcare, retail, automotive, and transport.
IIoT is at the center stage of Industrial Convergence, which represents the synergistic blending of certain key technologies including broadband wireless (WiFi, LTE, and 5G), Cloud Computing, Big Data and Analytics, Smart Infrastructure, and various IoT solutions.
Industrial Convergence and Industry Transformation
This convergence of technologies will transform everything from manufacturing to enterprise automation. The benefits to business and society as a whole are many and varied including greater efficiency, new and improved products and services, and greater flexibility such as products as a service.
One of the first industry verticals to see a positive impact is the manufacturing industry, which is rapidly transforming as technology, competition, and the evolving demands of global consumers dictate the need for continuously improving efficiency and flexibility.
One important convergence area is flexible and distributed manufacturing. 3D Printing is a form of additive, distributed manufacturing that provides the ability to create physical objects from digital designs through a layer-by-layer process using various types of raw materials.
Industrial Convergence Research
For more information, see the following Mind Commerce research:
Industrial Convergence: 5G, IIoT, 3D Printing, Big Data, and Streaming IoT Data Analytics 2018 – 2023 evaluates the status and prospects for 5G as well as supporting technologies such as Mobile Edge Computing. This research also evaluates IIoT technologies, companies, applications, services, and solutions. Report forecasts include overall global and regional IIoT outlook as well as IIoT by industry vertical, software, hardware, and services for the period 2018 to 2023.
This research includes an examination of the 3D market from multiple facets including hardware manufacturers, service providers, application providers, software providers, raw material providers, and communities. The report also assesses the market impact and provides forecasts across all verticals globally and regionally for 2018 to 2023.
This research also provides an in-depth assessment of the global Big Data market, including a study of the business case, application use cases, vendor landscape, value chain analysis, case studies and a quantitative assessment of the industry with forecasting from 2018 to 2023. Finally, it evaluates the technologies, companies, and solutions for real-time IoT data processing and analytics.
It also assesses challenges and opportunities associated with realizing business value from real-time analytics. The report provides detailed forecasts globally, regionally, and across industry verticals and solution categories for 2018 to 2023.