What's Trending in IIoT for 2018
Top 10 Trends in IIoT Asset Maintenance for 2018
As we approach 2018, Presenso, an industry leader in the application of Artificial Intelligence for predictive asset management, outlined some interesting viewpoints for IIoT asset maintenance in the coming year. IIoT will remain a strong core strategy as well as a strategic priority for most industrial manufacturers. IIoT isn’t a fad and won’t be going away anytime soon. In fact, providers like TDG Technologies will continue to advance technological development. However, the technology is continuing to evolve quite dramatically while companies search for solutions that best fit with their structure and goals. The result is that some uncertainty and caution remain. Customers are assessing and evaluating as they try to match expectations and needs with the solutions offered by IIoT technology.
In terms of some of the top trends for 2018, here is a summary of what to expect.
Trend No. 1 — IIoT infrastructure investments wait on the sidelines
IIoT R&D investments aren’t stopping. It’s more like a pause, with large players such as GE and Siemens waiting to see how the market shakes out. There remains hesitancy on the part of the industrial sector to commit to one vendor’s platform. So, as the market settles, larger providers patiently wait on the sidelines.
Trend No. 2 — Momentum for unsupervised machine learning (ML)
"Unsupervised machine learning" relates to low-touch analytics. Looking ahead, there will be less need to “train” data labels due to advancements in algorithms that automatically analyze machine sensor data. There is no longer a need for the learning algorithm to be “trained” on the physical machine blueprints and mechanical processes. Plus, machine learning is agnostic to vendor, asset age, or sensor type.
Trend No. 3 — Automotive industry benefits from IIoT predictive maintenance
IIoT will benefit many industries, but perhaps none more than the automotive industry where unscheduled downtime has a direct and critical impact on business models. Disruptive changes are occurring within the automotive industries, and companies are willing to adopt IIoT predictive analytics as a competitive differentiator with positive financial impact. To be sure, the automotive industry is not alone; other industries aren't far behind.
Trend No. 4 — IIoT predictive maintenance drives top-line growth
In the past, predictive maintenance was viewed primarily as a means for lowering costs and increasing operational efficiencies. With the evolution to Industry 4.0 and 5.0, decision-makers are taking a different view and are beginning to realize top-line revenue growth associated with big-data investments. The focus is shifting to improved uptime and higher production yield as the key drivers for investing in IIoT technologies.
Trend No. 5 — Predictive maintenance takes on a holistic approach
As companies continue to automate production, inventory management, and equipment inspection, a shift is occurring away from independent, siloed projects towards integrated, holistic asset management. With data from sensors and other IIoT technologies, for example, repair schedules can be automated from a central point.
Trend No. 6 — Big data centers of excellence will lose favor
One of the misconceptions that companies had was a reticence to deploy IIoT for predictive maintenance since they did not have qualified big data engineers and scientists on staff. Companies are realizing that building their own big data centers and corresponding staffing is not realistic. The direction now is towards using 3rd party vendor solutions for building out professional services or automating solution functionality.
Trend No. 7 — Focus on multi-asset predictive maintenance solutions
Machine learning is allowing companies to take a more holistic view of operations to monitor multiple assets at once rather than limiting themselves to SCADA-based solutions that are machine specific. Using multiple asset inputs better allows companies to generate root cause analysis regarding problems that arise.
Trend No. 8 — OEMs move towards service models
OEMs are moving away from simply being hardware providers. By bundling Software-as-a-Service (SaaS) licensing agreements with their hardware, OEMs are able generate recurring revenue while providing customer with integrated predictive maintenance solutions.
Trend No. 9 — Evolution of a new IIoT ecosystem
With a continued focus on IIoT asset-maintenance, investment capital is flowing into the market and a new IIoT ecosystem is evolving. Start-ups like TDG Technologies are driving new areas of IIoT innovation. Meanwhile, traditional vendors are investing to build internal capabilities or are acquiring startups as a means to enter this space.
Trend No. 10 — Resetting expectations for IIoT projections
Estimates for IIoT sizing and market predictions have, in the past, been over-inflated and unrealistic. New analytical reports will reset expectations with more accurate projections that better reflect the growth associated with the IIoT market.
TDG Technologies remains committed as a key contributor to the IIoT market. If you want to learn more about IIoT and our SmartHAWK™ line of wireless industrial sensors, please review our website at www.tdgtechnologies.com. Feel free to also contact us directly at (760) 466-9234.