The Pivotal Role of IoT in Smart Manufacturing, Automation, and Reducing Downtime

IoT in Manufacturing

Riding the surging wave of the fourth industrial revolution the manufacturing industry is quickly embracing the Internet of Things (IoT) to optimize and automate processes in a massive digital transformation. Manufacturing units leverage faster networks, smart devices, increased connectivity, and limitless capabilities of IoT technology, which signifies a new era in digitization!

Smart manufacturing market prediction

Going by the international smart manufacturing market estimation, the market valued at USD 97.6 billion in 2022 will climb to USD 228.3 billion by 2027 at a CAGR of about 18.5%.

McKinsey survey carried out beyond geographic boundaries reveals industry fraternity crediting their success to digitalization, IoT, and smart manufacturing adoption in particular. Digitization shortened their new product rollout time up to 25-50 percent and reduced make-to-order/make-to-stock manufacturing process costs by up to 30 percent.

Smart factories are advanced digitized solutions that count on data, IoT, AI, and ML technologies to enhance the efficiency and quality of manufacturing operations. These technologies serve as the cornerstone for competitive advantages. Deloitte’s survey that 61% of manufacturers seek specialized IoT solutions to enhance their smart factory initiatives ascertains the fact.

Smart Factory for Improved Operational Efficiency

IoT solutions help manufacturers automate more processes, detect equipment anomalies, reduce rework costs, and reduce errors. It thus helps increase operational efficiency.

According to a report by McKinsey, IoT applications in manufacturing have the potential to amplify the economic impact of $1.2 to $3.7 trillion per year by 2025.

A Deloitte research indicates that predictive maintenance powered by IoT technologies reduces equipment breakdowns by 70% and maintenance costs by 25%.

IoT use in manufacturing can reduce the energy costs of machinery by almost 40%, driving sustainable operations.

IoT-based Predictive Maintenance

IoT applications, in conjunction with specialized sensors, can monitor equipment operating parameters, including temperature, pressure, vibration, oil levels, etc., to predict malfunctions before they happen.

It is useful in cases where it is difficult to remove heavy equipment from installed locations at periodic intervals for preventive maintenance. Another instance that necessitates predictive maintenance is in cases where preventive maintenance is costly and unnecessary.

For instance, an Air Quality Monitoring solution can sense the proportion of various gases in the ambient atmosphere and measure the concentration of particulate matter of varying thickness(PM2.5 & PM10). Based on the above observations( along with temperature & humidity calculations), the application can suggest AQI levels needed to provide a balanced and healthy atmosphere for the facility occupants.

Sensors transmit the gathered real-time data instantly to cloud servers via wireless networks. Floor managers can set custom alarms based on any specific criteria. The cloud application sends mobile alerts upon detecting breaches or anomalies.

Unplanned downtime of machinery can have a significant negative impact on productivity. It can cost even up to $260,000 an hour.

Role of IoT and Automation in Quality Control

Smart factory solutions, including IoT and workflow automation solutions, have a telling impact on production quality improvement. Sensors can monitor the quality and dimensions of manufactured goods faster and more accurately than the human eye. By reacting quickly to the deviations, manufacturers can avoid product recalls owing to defects, improving customer satisfaction.

Reduced Costs

IoT Energy metering solution helps industries save significant energy expenses. Shortage of skilled labor is one of the long-term problems of manufacturing industries. Automation reduces the need for human involvement in repetitive or labor-intensive tasks. It frees up the time for labor, enabling them to focus on tasks requiring technical or analytical skills.

Automation reduces human errors and the volume of scrap or waste generated by encouraging the culture of doing it right the first time when it comes to preventive maintenance.

Scalability

Automated systems possess scalability as an inherent characteristic. They adapt to market dynamics and changing production requirements easily. It helps to amplify production volumes and diversify products to keep pace with competition.

So, IoT-powered industrial IoT solutions help the industrial fraternity ramp up production, improve quality, reduce human involvement, and improve visibility and control of operations.

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