Issue link: https://industrialengineer.epubxp.com/i/777540
February 2017 | ISE Magazine 45 machines never leaves the plant. An internet connection allows the critical data to be sent to supporting ap- plications and get analyzed and displayed on one dashboard in any location, avail- able when needed. The transition to IIoT presents manufacturers with many benefits, including visibility, predictive maintenance and improved operations. The IIoT can bring real-time visibil- ity into the location and status of fixed and moving assets such as critical in- ventory, parts, equipment and goods in transit. For example, if a plastic injection molding company houses its polyeth- ylene in a silo, sensors can be added to monitor inventory levels. The con- nected system can sense when inven- tory is running low and send an alert to the supplier to schedule a fill, limiting downtime. Data from multiple sites is aggregated on a common platform for centralized management and analysis. Predictive maintenance also can avoid expensive downtime. From cooling sys- tems to production machinery, manu- facturing equipment often requires maintenance on a regular basis. IIoT technology can be used to monitor this equipment remotely, alerting decision- makers to any changes that indicate im- pending trouble. If a motor's temperature increases be- yond normal or the vibration of a pump has changed, the trend will show in the data, and the issue can be addressed before it becomes a disaster. The IIoT makes maintenance service proactive, not reactive. Applying analytics to the machine data opens the ability to adopt a use-based maintenance methodology, saving time and money. The IIoT also will improve opera- tions. The ability to predict potential equipment failures and repairs mini- mizes the number of service calls neces- sary. Manufacturers using IoT solutions in 2014 saw an average 28.5 percent increase in revenues between 2013 and 2014, according to a survey from TATA Consultancy. Industrial use cases The manufacturing industry is rife with opportunities for a successful IoT de- ployment. Where there's a technology, there's a market, and Forbes rounded up a set of predictions expecting explosive growth in the internet of things market over the next few years. For example, Bain predicts that annual revenues for IoT vendors could exceed $470 billion by 2020, while McKinsey estimates the total IoT market size will grow from $900 million in 2015 to $3.7 billion in 2020. And General Electric predicts investment in the industrial internet of things will top $60 trillion in the next 15 years. This growth reflects an increased number of devices. From 15.4 billion devices in 2015, IHS forecasts 30.7 billion devices in 2020 and 75.4 billion in 2025. And businesses are using the nascent IoT to create entirely new strategies, Forbes reported. For example, Lufthansa created a new business by mining data from its maintenance, repair and overhaul operations. They provide the information to their customers and use real-time aircraft, airport and weather sensor data to improve on-time performance and optimize operations. It's clear that the IoT and IIoT can deliver value by solving complex logistics, manufacturing, services and supply chain problems. IoT is a futures market