Top 10 Industrial IoT Case Studies
Henry Ford introduced the assembly line manufacturing approach for his car company and marked a milestone in the industrial revolution. Years later, the top IoT case studies in different industries have heralded the beginning of another industrial revolution. Industry 4.0, the moniker for the latest stage of the industrial revolution, revolves around the potential of IoT for offering new perspectives on technological development. Internet of Things technology helps in creating networks of devices and systems which can connect with each other and exchange data. IoT applications have proved useful in improving consumer-facing applications as well as organizational efficiency.
The potential of industrial IoT has attracted the attention of industry leaders as wsell as aspiring tech professionals worldwide. Beginners in the domain of IoT could utilize their understanding of IoT applications in industrial use cases to unravel more information about the power of IoT. The following post offers you an introduction to the industrial Internet of Things and its components. You can also learn about the importance of the industrial Internet of Things and top use cases in different industries.
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What is Industrial IoT?
Before you dive into industrial IoT case studies, it is important to understand the fundamentals of the industrial Internet of Things. The simplest description of the industrial Internet of Things paints it as the use of IoT for the transformation of industrial processes, systems, and applications. IoT can support prolific improvements in the logistics, manufacturing, and agriculture sectors. You can find significant similarities between industrial IoT use cases and IoT in terms of optimization and automation. The facility of large networks of interconnected IoT devices, such as sensors, smart computing devices, and instruments, can empower the industrial Internet of Things.
Industries could leverage IoT to capitalize on the benefits of data collection on a massive scale. As a result, businesses are likely to make more informed decisions based on credible and precise insights from IoT data. In addition, IoT could facilitate radical improvements in efficiency, worker safety, and productivity for industries.
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Components of Industrial IoT
The significance of IoT for industrial use cases is evident in the power of the underlying components. You can find a wide variety of industrial IoT protocols powering up the prospects for large-scale IoT adoption in industrial use cases. What are the most crucial blocks in the architecture of the industrial Internet of Things?
Big Data Analytics
The most prominent value-based advantage of embedded IoT devices is the accessibility of real-time data at a staggering pace. Estimates suggest that the number of IoT-connected devices could increase up to 40 billion by 2025. Most of the top IoT case studies reflect on how embedded devices can help businesses leverage the power of data.
Industries could collect all the data in the form of comprehensive visualizations through a centralized dashboard, which can reduce the manpower required for monitoring. On top of it, the combination of IoT Big Data analytics with machine learning, AI, and statistics can empower industrial decisions.
The possibilities for integration of edge computing with IoT for industrial use cases also prove the potential of IoT. Edge computing is gaining attention with the growing demand for industrial IoT applications. It can help in the decentralization of computing resources, thereby reducing dependency on data centers and in-house facilities. Edge computing ensures lower response latency alongside the costs of operating industrial Internet of Things applications. Edge computing could reduce the amount of data subject to centralized management, thereby reducing the use of computational resources.
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Importance of the Industrial Internet of Things
The introduction to popular industrial IoT case studies is incomplete without an overview of the significance of the industrial Internet of Things. The adoption of industrial Internet of Things use cases worldwide has been driven by its valuable benefits. The Industrial Internet of Things can improve operational efficiency, predictive maintenance, and faster improvement cycles. Real-time monitoring of industrial facilities serves promising advantages in ensuring industrial safety and avoiding operational downtime.
Growth of the Industrial Internet of Things
The next prominent highlight in a review of different examples of IoT case study on industrial automation sheds light on the market growth. How is the industrial Internet of Things market performing now? What is the future of the industrial Internet of Things? The responses to these questions can provide valid reasons for reading about the use cases of the industrial Internet of Things. Here are some statistics about industrial IoT or IIoT, which showcase the existing and expected trends.
- The global IIoT market was worth over $263 billion in 2021. As of 2022, the market value of the industrial Internet of Things is more than $323 billion dollars. Market predictions suggest that the industrial Internet of Things will be worth over a trillion dollars by 2028.
- According to McKinsey Global Institute, industrial IoT use cases have the capability to contribute almost $4 trillion to $11 trillion worth of economic value by 2025.
- The industrial Internet of Things market will also contribute over $14 trillion to the global economy through different value benefits by 2030.
- Top industries such as transportation and logistics, utilities, and the discrete manufacturing sector are expected to invest $40 billion each in IoT transformation.
- Industries seek IoT applications as an effective route for achieving multiple enterprise benefits. Around 54% of industrial IoT protocols and applications rely on cost savings as a primary revenue driver. On the other hand, around 23% of Chinese companies have affirmed the use of IoT for increasing competitiveness.
- Almost 58% of manufacturers have perceived IoT as a crucial tool for the digital transformation of industrial operations. At the same time, around 80% of senior executions in different industries believe that IoT is a crucial factor for the growth of different lines of business.
- The investments in IoT by companies could increase up to $15 trillion by 2025. As of now, estimates suggest that expenses in IoT solutions could exceed $1 trillion in 2023.
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List of Examples of Industrial IoT Use Cases
The review of industrial Internet of Things fundamentals, its importance, and market trends provide necessary information required for a review of IoT use cases in different industries. You must have questions like “What are examples of industrial IoT?” to understand the industrial Internet of Things from a practical perspective. Here are some of the most popular use cases of the industrial Internet of Things or IIoT.
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1. Tom Farms
The foremost sector in the adoption of IoT for industrial use cases is farming. Bytes and Bushels is one of the popular case studies focused on applications of IoT for farming on an industrial scale. The IoT case study on industrial automation in the farming industry focuses on Tom Farms, a family-owned farm in US.
Tom Farms have discovered an innovative approach for leveraging IoT to facilitate easier distribution of their produce. Following the farm crisis in the 1980s, Tom Farms purchased more land and worked on research and development of new technologies for production. Tom Farms effectively adopted self-driving tractors, GPS data, and sensors alongside iPhone apps for efficient irrigation.
The next important mention among examples of industrial IoT protocols would point to Airbus. The commercial airplane manufacturer leverages IoT to create a factory of the future that would improve production capacity alongside streamlining operations. Airbus leverages integrated sensors in different tools and machines for monitoring each step in the assembly process while avoiding mistakes. In addition, Airbus has also introduced wearable technology for workers with industrial smart glasses, which could improve workplace safety.
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3. Tesla IoT Car
Tesla is obviously one of the top responses to “What are examples of industrial IoT?” with global popularity. The vision of Tesla Motors for creating self-driving cars relies profoundly on AI and IoT. The futuristic vehicle manufacturer can leverage IoT-based applications for the customization of cars according to customer requirements. The Internet of Things powers the crucial features of self-driving cars Tesla, such as autopilot mode, connectivity, and mobile application control.
4. General Electric
The outline of top IoT case studies in industrial contexts would also include the example of General Electric or GE. General Electric seeks efficient opportunities for leveraging the combination of IoT and industrial analytics for capitalizing on exclusive value benefits. GE utilizes IoT in its industrial machinery to achieve more than just controlling and monitoring machines. On the contrary, the applications of IoT could help GE with predictive maintenance, thereby supporting the easier prediction of breakdowns.
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The collection of industrial IoT use cases also sheds light on examples like Caterpillar. The heavy-equipment manufacturer has been one of the renowned pioneers in the implementation of the industrial Internet of Things. Caterpillar, also known as CAT, has reaped the rewards of IoT adoption in industrial use cases.
The heavy-equipment manufacturer has utilized IoT and augmented reality applications to help machine operators obtain real-time insights on fuel levels and machine health status. On top of it, the marine asset intelligence division of CAT has employed sensor-driven analytics for safeguarding assets on shipping vessels and boats.
Another prominent addition among examples of IoT case study on industry automation is Hitachi. The striking highlight of the IIoT use cases of Hitachi is the dedicated workforce of 16000 professionals focused on IoT technology. The company provides an IoT platform, Lumada, alongside many IoT-based products. Furthermore, Hitachi has also worked on the development of an IoT-based production model which could reduce production lead times for infrastructure manufacturing tasks.
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7. PTC Thingworx
PTC Thingworx is also a promising addition among industrial IoT examples. The platform helps in building and operating IoT applications, thereby enabling an efficient choice for the transformation of products and services. One of the most notable use cases of the IoT platform is All Traffic Solutions, which offers traffic safety products across the United States. The applications of All Traffic Solutions have evolved over the years to empower innovative IoT-connected smart traffic signs.
Intel has entered the domain of the industrial Internet of Things with its partner NEXCOM for transforming electronic medical record management. The new IoT-based medical informatics system by NEXCOM helps in addressing the barriers to communication between IoT networks and medical devices. It can help in easier documentation of medical device data in electronic medical records and transferring to private cloud of healthcare providers.
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9. John Deere
The list of answers for “What are examples of industrial IoT?” also includes John Deere, the renowned tractor manufacturing company. The manufacturer leverages IoT to power its next generation of self-driving tractors. Most important of all, the command of John Deere on GPS technology supports its initiatives in developing self-driving tractors. On top of it, John Deere also leverages telematics for facilitating and predicting maintenance benefits.
The final addition among industrial IoT case studies draws attention to the retail giant Amazon. It is one of the leading innovators in the use of IoT for transforming logistics and warehousing operations. For example, the fulfillment centers of Amazon use connected robots to locate shelves of products and bring them to workers. The use of IoT-connected robots could not only help in improving operational efficiency but also facilitate significant cost reductions.
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The overview of the different use cases of the industrial Internet of Things provides clear insights into how IIoT can revolutionize digital transformation. As a subset of the broader IoT market, the industrial Internet of Things has better prospects for growth in the future. Most important of all, popular and successful industrial IoT use cases set the benchmarks for upcoming innovations in the industrial applications of IoT.
Industries would have to go through new approaches for innovation in business model design and adapt to the latest technology. If you want to learn more about the impact of IoT on business models, you can choose 101 Blockchains to learn about business model innovation. Learn more about IoT fundamentals and how they can revolutionize industries right now.
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