2 July 2021

Industrial Internet of Things (I-IoT): data, applications and benefits for companies

The Industrial Internet of Things is deeply changing the way companies manage productive processes with the introduction of new business models. In particular, it allows companies across different fields to pursue a data-driven approach, turning the bulks of data produced by smart applications into a real competitive edge. 

State of the art and growing fieldsAccording to data published by the Osservatorio Internet of Things 2021 Observatory of the Polytechnic University of Milan, the total value of the Italian market reached 6 billion euros, withstanding the blow given by the pandemic.

Source: Politecnico di Milano / Dipartimento di Ingegneria Gestionale

Although the highest growth is in the Smart Home environment, stimulated by the boom in vocal assistants and domotics, fields such as Smart Agriculture, Smart Factory, Smart Logistics and Smart Cities grew notably compared to 2019. Moreover, about 54% of big companies and 13% of Italian SMEs started at least an I-IoT project in the last three years - especially for what concerns analytics, cloud manufacturing, additive manufacturing and advanced automation. 

It shouldn’t come as a surprise, then, that the IDC study Worldwide Internet of Things Forecast, 2020-2025 argues that by 2025, there will be almost 55.9 billion connected devices and things in the world and almost 79.4 ZB generated data, with an astounding growth compared to the 13.6 ZB generated last year. An ecosystem, as stated by McKinsey in The Internet of Things: Mapping the value beyond the hype, valued at 11 trillion dollars annually.

What are, then, the benefits for companies? How can they catch the opportunities of the digital transformation promoted by the National Plan for the Transition 4.0?

The benefits of I-IoT 

From the research of the Polytechnic of Milan’s Osservatorio and the white paper we at GreenVulcano published in regard to this matter, we noticed that the presence of smart devices entails several benefits for consumers, enterprises and public administrations. Not only from an economic and financial perspective, but also for everything that concerns aspects of environmental sustainability and reduction of risk. Indeed, as stated by Angela Tumino, Director of the Osservatorio Internet of Things 2021:

The growth of digital culture in companies fostered the development of greater awareness of costs and the benefits enabled by IoT technologies for citizens, companies and public administrations in economic, environmental and risk-reduction terms. These benefits highlight how I-IoT can assume a key role in the digital transformation of the country.

It’s not a case that the growth of the Industrial Internet of Things allowed for the reduction in the gap between big enterprises and SMEs, willing to innovate themselves according to the rules of the Fourth Industrial Revolution - thanks to the support of the government who started the National Plan for the Transition 4.0 (for more information, read the article on innovation, tax reliefs and sustainability: a guide to the Transition 4.0 for companies). In particular, the fields one should invest to ride the wave of the digital transformation are:

  • Smart Factories, that is the application of digital technology inside factories to guarantee flexible and auto-adapting production, real-time control of the production process and management of preventive and/or predictive maintenance. In this case, we speak of digital supply chain with end-to-end visibility, namely interconnected information in real time that synchronize demand and supply of a product and adjust the various functions of the supply chain;
  • Smart Logistics, that is the digitization of infrastructure, equipment, resources and operational strategies to support logistics and track the products;
  • Smart Lifecycle, that is the use of smart applications to optimize the development process of new models and product updates.

The role of GreenVulcano Technologies

According to the numbers indicated and the contexts we work in - such as companies - it should be appropriate to highlight the importance of integration among production and data management systems. Nowadays, systems are often in line with the sales and accounting departments of companies, but they are not integrated for planning and production activities.

Specifically, the bulk of data generated by the application of I-IoT in companies and within the supply chain represents a value with enormous potential for companies. What are, then, the skills companies have to develop to analyze and manage the data gathered by connected plants and machines? What about our solutions and consulting services?

We’ve always presented ourselves as a partner able to provide targeted solutions to allow companies to ride the wave of this digital transformation. We have more than twenty years of experience in:

  • System integration;
  • Management of state-of-the-art Intelligent Internet of Things (IIoT) platforms;
  • Management of Big Data, with which we support our customers in their transition to the world of Digital Transformation - thanks to Artificial Intelligence techniques and by means of flexible solutions. 

Do you want to know more about it? Do you want to discover innovative strategies and methodologies to optimize your company’s production processes and catch the greatest chances offered by the National Plan?

Download the white paper on “Transition 4.0: the push to the industrial fabric towards the fulfilment of the industry 4.0 paradigm” and sign up to the webinar we’ll hold together with Smactory, a software house specialized in the development of technologies for the industry 4.0, and Orrick, an international legal firm and leader in financial consulting in Italy, on July 6th at 17:00.

Take part in the digital transformation. We’ll wait for you!

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