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How can we quicken the adoption curve of IoT for Manufacturing?

The issue with IoT has been that most manufacturing process companies actually see massive value and a lot of opportunities with the IoT adoption, but seemingly they seem to be also aware of the significant challenges and risks, IoT poses in terms of Data, Security and above all, Return on Investments.

Implementation comes at a cost, and seemingly so, one of the dominant factors towards positioning IoT to businesses, could be in the area of Monetization of IoT.

Monetizing IoT can create a significant impact to making the thought leadership in manufacturing to look at a faster transition to being data driven, overcoming the huddles of the infrastructure investment woes.

Some avenues to look at would be:

  • Profits will be increasingly driven through services and software as we move forward
  • Which are also potential monetization drivers for manufacturers
  • Businesses are looking to software business models
  • Offering value added services built around data

Creation of Platforms, where data could be quickly aggregated, analyzed and churned with quick actionable outcomes, would form the crux of the new-age manufacturing definition. It can lead to a creation of a pool of:

  • Platform of Things 
  • Revenue from Industrial Insights
  • Revenue from Personal Insights
  • Revenue from 3rd parties creating applications 
  • Things as a Service
  • Support & Maintenance
  • Monitoring & Reporting
  • Regulatory Compliance

Some considerations to look at leading this change would be governed by:

  • Architecture starting to evolve, and a paradigm shift from Cloud to the Edge through the Fog
  • Adoption of Open Source over Proprietary Systems 
  • Reliable Communication and Connectivity
  • Keeping the Essence of Time as Critical
  • Security enforced and embedded

Questions to begin with then for faster adoption, you ask? Start with asking:

  • Where is there a Need?
  • What is the Value?
  • Who is the User?

Write to us at contact@iotfynow.com for garnering more insights towards creating blueprinting and ideation avenues for a value driven IoT ecosystem creation.  

For more information on our products and services, please contact sales@iotfynow.com

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