IIoT can be applied to a range of industries with applications to save time and resources but increasingly also to innovate new service and revenue models.Īlso read: Protégé Ventures as a gateway for VCs to invest in the future Operational efficiency and cost optimization are the key drivers of industrial IoT, as it enables use cases such as asset performance management, predictive maintenance, remote service, connected logistics, and smart factories. An industrial IoT platform enables us to leverage machine learning and advance artificial intelligence in real-time to bring in smarter manufacturing methods and enhance products. Using industrial IoT platforms, companies can analyse and act on data produced by connected devices to automate and improve how they design, manufacture, and service products. Also known as Industry 4.0 or the industrial internet, IIoT solutions utilize a connected network of intelligent devices that can monitor, collect, exchange and analyze data on a real-time basis to create value and transform business outcomes.
Industrial Internet of Things (IIoT) refers to the use of smart sensors in machines that enhance industrial manufacturing processes.