View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 27, 2015

IoT key for future manufacturing prosperity

The latest IDC report details the primary applications of IoT in manufacturing.

By

The Internet of Things (IoT) is expected to lower operating costs for manufacturers as a wave of new applications and investments transform their products, services and operations this year.

The latest IDC Manufacturing Insights report looked at manufacturers’ prospects and found that IoT applications for processes and products are essential for future prosperity.

It also found that manufacturers have high expectations for the IoT’s impact on lowering operational costs.

The report pointed to investments in smart manufacturing, where benefits of applications include an increase in production output, workforce safety, product quality and energy efficiency.

It added that IoT investments in vehicles and industrial machinery would improve product performance, remote diagnostics, remote maintenance and remote operations.

Kimberly Knickle, practice director at IDC Manufacturing Insights and author of the report, said: "As IoT provides the basis for an increasing amount of automated data acquisition, manufacturers will be able to adapt their processes and their products not just for incremental improvements but also for more transformative purposes, including self-healing or autonomous processes and capabilities that evolve into new business models."

The report also predicts that by 2020 at least half of all corporate stand processes will have automated data acquisition (DAQ) systems, while a quarter will have self-correction capabilities.

Content from our partners
How to combat the rise in cyberattacks
Why email is still the number one threat vector
Why HR must take firm steps to become a more data-driven function

 

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU