To keep up in the ultra-competitive industrial landscape, organizations must decide: replace assets altogether, or modernize them to limit the impact of aging. Industrial IoT is one solution to modernize your assets. Replace For most industrial organizations, replacing assets with state of the art machinery is not an option. While this modern machinery will deliver better […]
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Existing maintenance solutions limit production. With the legacy tools and processes at their disposal, manufacturers commonly take reactive or scheduled maintenance approaches that present a multitude of challenges: Existing Maintenance approaches are costly: Up to $1.3M per hour cost of downtime in auto manufacturing (Source: PTC) 10x cost of unplanned downtime compared to planned (Source: ARC Advisory […]
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The industrial internet of things (IIoT) has completely changed the competitive landscape for manufacturers. It is ushering in entirely new ways of thinking about every business process from product design, engineering and manufacturing to maintenance and asset management—not to mention new business models. It drives greater levels of efficiency that were never thought possible before. Before the advent of […]
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New business opportunities for IIoT Today, manufacturers around the world are seeking new ways to meet market needs, improve products, optimize operations, increase revenues, and reduce costs and risk. Automation, digitalization, and the adoption of IIoT are important requirements for companies that wish to lower costs, drive new efficiencies, and find new business opportunities with […]
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Recently, Lucian Fogoros, Co-founder and Managing Director of IIoT World, interviewed Klaus Helmrich, Member of the Managing Board of Siemens AG and CEO Digital Industries. Some of the questions we asked were crowdsourced. Lucian Fogoros: Industry 4.0 is today mostly about customization of products – how does Siemens see customization opportunities in Industry 4.0 without a […]
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By 2025, experts expect that the Industrial Internet of Things (IIoT) will provide a $4.6 trillion opportunity for the world’s industrial operations to upgrade and add value to the global economy. This reflects the trend toward digitization just about everywhere, thanks to technology advancements. For OEMs & machine builders, the digitization trend coincides with industry’s […]
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Companies have this essential need to build an IoT platform today, or be at least very active partner in one, or even many, to fit their business goals. A platform connects, it connects your world with the rest of the world. Often when we talk about IIoT, it can get easily confused with IoT. Actually, […]
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