Industry Shorts: The Rising Need for Industrial IoT

Think of Internet of Things – does it pull a memory of voice-assisted tools like Alexa, Siri, Google Assistant or does it link to Asset Management, Remote Monitoring, Predictive/Preventive Maintenance, AI/ML-powered Vision Applications for Object Identification, or Smart Manufacturing? These highlight the seamless convenience brought by the Internet of Things (IoT) for both commercial and industrial domains.

Speaking of Industrial IoT, it is a transformative force connecting diverse devices, enhancing communication, and revolutionizing businesses globally, notably impacting Original Equipment Manufacturers (OEMs). From implementing operational excellence to delivering smarter products, developing newer revenue streams, Industrial IoT is crucial for OEMs, ensuring a worry-free business transformation.

Finances Online predicts 25 Billion IoT Devices in operation in the next seven years, emphasizing the need for businesses, especially OEMs, to stay adaptable.

Successful companies are those that effectively leverage emerging technologies.

Looking to 2030, with 75% of devices IoT-enabled, the impact on day-to-day life is evident. Industrial IoT streamlines manufacturing and enhances consumer experiences, reshaping the product market fit.

Stay tuned for insights into the future of IoT, focusing on Industrial IoT and trends in 2024. Join me for a stimulating discussion on this evolving technological landscape!