There is a lot to consider when investing in an industrial IoT solution. You’ve probably heard about the transformative power of connected devices, but what are the real world results manufacturers can expect to gain from their investment? Below are a few of the benefits of of investing in an end-to-end IoT solution for manufacturing.
Improve operational efficiency
Sensor technology and connectivity that incorporates both legacy and new technology makes it possible reduce cost and boost production.
Optimize asset usage
Connected devices that can communicate with each other and automatically respond to production needs take the guess work-out of prioritization and allocation.
Prevent outages and failures
With predictive maintenance and asset feedback, manufacturers can increase uptime while avoiding the costs of production shut down and machine failure.
Decrease maintenance costs
Connected devices can be uniformly serviced and upgraded remotely. With feedback from devices, maintenance can be carried out “as needed” to keep things running smoothly at a lower cost.
Improve energy efficiency
IoT helps manufacturers optimize production and lower energy consumption with connected devices that turn themselves on or off according to production needs and energy prices.
To rapidly differentiate from the competition and become an industry “first mover”, connected devices can be used to build new business models based on services and subscriptions.
Access new revenue streams and user groups
IoT enables continual product add-ons and aftermarket services, leading to adapted offerings, or entirely new offerings aimed at a new customer base.
Improve offerings and transform business models
Customer needs are easier to meet with data on the real-usage of connected devices. That data helps a product evolve into a connected product-as-a service.
Achieve this and more with your Industrial IoT solution
Manufacturers can accomplish this and more with an end-to-end industrial IoT solution from an experienced partner. Contact us today to learn more about how IoT can transform your business.