Manufacturing & Processing: a relatively mature application in which IoT is enabling new business models
This Application Spotlight provides a qualitative and quantitative analysis of the IoT market related to Manufacturing & Processing. It provides a definition, description, analysis of drivers and barrier, and high level forecasts for growth in connections, technology split and revenue opportunity.
Manufacturing & Processing comprises tracking, monitoring and control of factory and other processing equipment locations, both by the factory for production management purposes, and by the manufacturer for non-production purposes, e.g. tracking faults or billing.
The main elements to the Manufacturing & Processing Application Group fall under 4 categories. Monitoring and Control of factory (and similar) equipment. The main driving forces are the need to control automated equipment, quality monitoring, faster fault resolution (i.e. reducing mean-time-to-repair), reducing costs and time to market through more efficient resource planning. This sub-category includes consumables replenishment (e.g. tanks and vats), process control, pumps, conveyor belts and numerous other pieces of manufacturing equipment. This is a relatively mature area with a range of different types of control systems having been in use since the 1970s. Any relatively sophisticated or large-scale manufacturing operation is likely to make some use of automation and remote monitoring. Tracking, Remote Diagnostics and Maintenance related to a wide variety of industrial equipment, including robots, but also less sophisticated tools and processes. For very large, expensive pieces of industrial hardware, e.g. generators, motors, industrial lifts, it is increasingly common for the manufacturer to wish to monitor the equipment. Partly this is to secure the supply chain. Partly it is for lifecycle monitoring, e.g. for fault identification. Either way, it drives new business models, enabling the manufacturer to establish a service-based model providing ongoing monitoring and analysis. Industrial Equipment Location Monitoring the use of relatively low cost M2M devices based on LPWA for asset tracking. Pay-per-use Manufacturing is the application of LPWA devices to enable a form of leasing manufacturing equipment where usage levels are monitored and determine the payments required.
For a full set of country-by-country forecasts, refer to the IoT Forecast Database.
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