The Industrial Internet of Things refers to a combination of interconnected sensors, instruments and other devices networked with industrial applications, including manufacturing and energy management.
This connectivity enables the collection, exchange and analysis of data, potentially enabling improvements in productivity and efficiency, as well as other economic benefits. IIoT is an evolution of a distributed operating system that enables a higher degree of automation by using cloud computing to refine and optimize process controls.
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The use of IIoT devices is increasing. IIoT was a $326.1 billion market in 2021 and is expected to be worth about $1.7 trillion by 2030 at a remarkable CAGR of 20.47% from 2022 to 2030, according to Priority research.
The IIoT market is expected to continue to grow through 2040 due to the increasing use of cloud computing platforms, according to Precedence Research. The adoption of IIoT systems is taking place in various industries, but especially in the manufacturing sector.
North America is the fastest growing region in the IIoT market, according to the company, with the US holding the largest market share. This is due to major IIoT market players such as Cisco, General Electric and IBM. statistic puts the global market for IIoT at more than $263 billion in 2021 and forecasts it to reach $1.11 trillion by 2028.
Benefits of Industrial IoT
For manufacturers, IIoT technology is “the key to dramatically reducing downtime, new business models and a better customer experience,” according to the company. McKinsey.
Key benefits of IIoT include increasing throughput, lowering operational costs and providing a higher level of workforce security, according to Precedence Research.
Other benefits include improved asset and service efficiency, revenue growth and customer satisfaction, according to: PTC. The company elaborates on these positives, pointing out that IIoT monitoring reveals the biggest costs, from factory scrap to unnecessary truck rolls. IIoT also provides asset health monitoring, remote diagnosis, and predictive maintenance.
The development of the IPv6 standard has contributed to the growth of the IIoT market. As the number of connected devices increased exponentially, IPv4 became “ineffective at storing data” generated by so many devices, according to Precedence Research, sparking the need for IPv6.
This latest standard “provides higher reliability and advanced security,” the research firm said. “The standardization of IPv6 is expected to drive the growth of the global IIoT market.”
Disadvantages of Industrial IoT
Like any technology, deploying IIoT is not without risks. Some of the project risks hampering organizational adoption include a lack of open standards, device hijacking, data portability, data breaches, and the ability to integrate legacy and M2M/OT equipment with IIoT applications.
Because IIoT devices are connected and interconnected in a network and store a lot of data, distributed denial-of-service attacks across all devices or the internal network are a major risk.
“Attackers can use the device itself or the centralized network as a way to get in and then flood the endpoint devices with so much traffic that they can’t complete the work they were intended to do,” he said. Archon, a provider of endpoint systems. “Essentially, an attack like this makes the IIoT endpoint devices about as useful as bricks.”
Precedence Research agreed, saying that the increasing adoption of smart manufacturing systems and the increasing number of connected devices in the manufacturing facility has increased the number of cybercrime and cyber-attacks in the IIoT industry.
This places the responsibility on the owner and/or supplier of the devices to ensure that security controls during installation are “in line with good practice”, according to a recent LinkedIn post. Author JD Bamford, IoT & OT security manager at Accenture, also states that the owner or the vendor — or both — are responsible for network security, wireless security, data security, cloud security, and supply chain security.
Features of Industrial IoT
There are a whole host of technologies that enable IIoT, such as cybersecurity, cloud computing, edge computing, mobile technologies, machine-to-machine, 3D printing, advanced robotics, big data, IoT, RFID technology, and cognitive computing.
IIoT is mainly focused on using smart technologies and connectivity to improve production facilities and industrial processes.
“IIoT implementations hold the promise of creating smart factories that are more productive, energy efficient and more secure than their predecessors,” wrote David Hoysan, an IoT product marketing manager in a statement. LinkedIn message.
The basic infrastructure of an IIoT implementation consists of a network of interconnected devices that provide data to control systems and, in some cases, respond and perform functions based on instructions returned by the controlling applications, Hoysan said. An array of remote sensors and activators are typical endpoints found on the network.
Like other IoT devices, IIoT sensors collect and measure the raw information on which the system depends. Based on the type of IIoT system, the sensors can measure environmental conditions such as pressure, temperature, humidity or other important characteristics.
If this topic has whetted your appetite and you’re working on implementing IIoT in your enterprise, help is available in selecting the right IIoT software.
There are hundreds of platforms and each one is slightly different from the next, so how do you choose? Check out this article — including links to TechRepublic Premium resources — to help you make that decision.