Manufacturing and energy companies are entering into a new era of competition where IoT driven, smart manufacturing products and product systems are disrupting value chains, enhancing productivity, and unlocking new data- and service- based revenue streams. This new wave of connectivity will permanently change their business model and the marketplace as a whole. An innovative class of first movers are already utilizing the Industrial Internet of Things to release new and upgraded product-service offerings and achieve newfound levels of operational efficiency.
These 5 industrial innovators are already redefining their business model with Industrial IoT:
Industry: Building systems manufacturing
Advantage of IoT: Real-time machine monitoring
Benefit: Predictive Maintenance
75% of a building’s lifetime costs are related to maintenance and operating expenses. Using Schneider Electric’s remote monitoring solution, OptiM2M, users can receive machine health diagnoses and alarms, and remotely control equipment and communicate with equipment in real time from a mobile or desktop device.
Industry: Machinery manufacturing
Advantage of IoT: Predictive analytics
Benefit: Servicing revenue stream
Diebold offers remote monitoring as part of its suite of managed services. As part of their ATM Maintenance Service Plan, Diebold monitors the ATMs for signs of malfunctioning, and either remotely repairs the issue or deploys a technician with a detailed diagnosis of the problem, parts and recommended repair process. The software component of Diebold’s Industrial IoT solution also delivers automated updates to ATMs.
ABB Smart Grid Technology
Advantage of IoT: Predictive analytics
Benefit: Improving operational efficiency
ABB’s smart grid is an Industrial IoT solution that manages electricity demand with greater sustainability, reliability and efficiency than traditional energy grids. Their smart technology balances electrical consumption with multiple energy sources, including fossil fuels and renewable power sources, by analyzing large amounts of equipment data in real-time and alerting utility control centers of possible overload conditions. Only with IoT can ABB’s grid automation technology enable large-scale regulation of two-way distribution grids requiring long distance transmission and the incorporation of electric cars and charging facilities.
Industry: Mining equipment manufacturing
Advantage of IoT: Real-time machine monitoring; Predictive analytics
Benefit: Improved efficiency & safety
Joy Global’s mining intelligence solution monitors the operating conditions of mining equipment deep underground, along with safety parameters to deliver predictive service indicators. Using Joy Global’s 24/7 machine health monitoring system, operators can use this machine productivity-related data to improve efficiency.
Advantage of IoT: Real-time performance optimization
Benefit: Improved efficiency
Smart Blade’s intelligent aerodynamic flow control solutions adjusts each turbine to more efficiently capture maximum wind energy with local micro-controllers and sensors attached onto each blade.
Smart, connected product solutions are more technically and economically feasible than ever thanks to breakthroughs in performance, miniaturization, energy efficiency, computer process and data storage. Now it’s up to IT leaders to broaden their organization’s value proposition using Industrial IoT. Few businesses have the software and hardware development talent needed to expertly develop Industrial IoT solutions similar to the ones outlined above. That’s why we’ve developed a guide to help IT leaders from industrial, manufacturing organizations determine the technical requirements and capabilities that a well-executed Industrial IoT solution requires. We’re also accepting applicants to our IoT QuickLaunch Program.