Internet of Things describes a network of physically connected objects that have sensors and sophisticated software built into them to enable data exchange between them over the Internet. However, IoT can be used to connect complex industrial devices and systems in industrial software in addition to connecting everyday household objects.
Over 7 billion IoT devices are presently in operation, and by 2025, that number is expected to reach 22 billion. As per Statista, the global IoT industry’s revenue is expected to exceed $1 trillion by 2030.
Now is the best time for entrepreneurs and businessmen to capitalize on the potential of Industrial IoT. So if you want to get started on industrial IoT development, here are the top 5 ideas to get started.
Top 5 Ideas For Industrial IoT Development
Read on to learn how recent trends or ideas in industrial IoT are fuelling business optimization.
Before explaining how IoT helps in predictive maintenance, let’s first take a deeper dive and understand how an IoT development company creates an IoT ecosystem in the first place. At the core of any IoT network are sensors which collect data and transmit them across the network. This data then gets interpreted by software and apps and it performs the function as per the requirement.
IoT is essentially an umbrella term for the collection of these sensors and controllers, which together create an Internet of devices. This is similar to how humans maintain communication with each other on the Internet.
Now coming to predictive maintenance. IoT sensors can be used on machinery to detect its status at the time of operation. Say, a particular piece of machinery consistently performs a set task within 5 minutes. Over time, it may lose its speed and the time taken to perform the task my simultaneously increase. An IoT sensor installed on such a machinery can detect this change and stimulate another device to automatically perform a maintenance check/or notify the change on the controller device held by the factory manager.
This is how predictive maintenance works in an IoT ecosystem. Chevron Oil fields already use Predictive maintenance solutions to detect possible problems related to corrosion and damages to its pipeline.
How to use IoT development for Asset Tracking
IoT sensors go a long way in helping companies gain valuable data from devices. The same can be used to track tangible devices within a company’s IoT ecosystem. Through Asset Tracking, companies are able to track the location, among other factors such as temperature, weight, and damage of objects to which specific IoT sensors are attached.
It is highly valuable in the supply chain system where companies usually face losses due to damage of supplies and loss of quality in items; issues faced during the transportation process.
Swedish car manufacturer Volvo is already using IoT to track its components bought from different countries across the world through its services undertaken by an IoT development company.
Also read: How to leverage IoT & Big Data for Digital Transformation
IoT for Smart Measurements and Metering
Large-scale manufacturing companies often face this dilemma when a batch of its mass-produced items fails to function or has some defects. IoT has a smart counter to it in the form of smart metering. Through smart metering, IoT sensors can gauge important measurements such as temperature, moisture among certain others crucial for the functioning of metered objects.
Apana, a leading IoT development company focused on smart water utility systems has helped one of its customers, Costco; save up to 22% costs in water management! Similarly, automobile companies such as Tesla make use of smart metering to help drivers keep track of the important metrics of their vehicle through a simple mobile app.
IoT for Remote Monitoring in Healthcare
Healthcare is one of the major industries leveraging technological advancements from any given IoT development company today. Any progress in this industry is a crucial one since it supports the lives of the civilization itself. In 2017, over 100 million patients at a hospital communicated with patients through online mediums. This was possible thanks to an IoT solution developed by Cognizant. This solution analyzed and interpreted measurements from medical devices to smartphones. Such an application of IoT can be useful for both doctors and patients alike.
Remote monitoring has an incredible amount of utility in the field of healthcare. With the use of IoT sensors in medical equipment, doctors can easily keep track of their patients. Similarly, it would reduce the need for patients, especially senior citizens to have regular appointments and checkups.
IoT for Human Resources
Deloitte Research has a new term for human resources, called “corporate athletes”. Well, consider this. Athletesand fitness enthusiasts constitute a major portion of the consumers of wearables and other consumer-oriented IoT tech. For those athletes involved in sports, this is necessary as well since athletes go through a tough training regime and are in need of important information to evaluate their fitness level.
In a similar context, corporate employees too, undergo a lot of strain in the form of emotional stress, office work, handling personal priorities, friendships, relations, finances and so much more in their routine 9-5 jobs. Thus indeed it is fair enough to term Human Resources as corporate athletes.
So how could IoT help human resources? To put it simply, an IoT development company could provide devices to be used on digital resources used by employees to track certain measurements. These measurements could then be evaluated using Big Data Analytics and Machine Learning. Then the useful information thus created could be provided to the CHRO for a better understanding of how human resources are functioning within the firm.
Call for action
The Industrial IoT is en route to progress in the Industry 4.0. This revolution will culminate when the entire world of digital objects are covered under the umbrella of IoT. United by connected networks spear-headed by sensors collecting and transmitting information. Perhaps now is the right time for your business to get into this game and surge ahead of the competition.
In the words of Maciej Kranz, “IoT isn’t a lone-wolf approach”. Developing an IoT ecosystem for your business is nearly impossible through in-house development alone, and would require the support of a top iot development company. PixelCrayons is India’s leading offshore software development services provider with over 14 years of expertise under its belt. Contact us today for your IoT development needs and get up to 60% off on development costs.
