This blog post was written by Jack Woelber.
IIoT provides new opportunities for those ready to jump on board.
Either I’m getting slower or the world is changing faster. Actually, both might be true.
Over the past few years, there has been growing “buzz” in our industry, and many others, about the Industrial Internet of Things (IIoT), specifically regarding how the IIoT could result in devices at all levels being connected to the Internet as well as data being collected for analysis. What is the IIoT? McRock Capital says, “The IIoT is the next wave of innovation impacting the way the world connects and optimizes machines. The IIoT, through the use of sensors, advanced analytics, and intelligent decisioning, will profoundly transform the way field assets connect and communicate with the enterprise.” GE and Accenture estimate this developing field could add between $7 trillion and $15 trillion to the world economy by the year 2030. Companies are currently making huge investments in the future of the Industrial Internet of Things.
What does this mean for our industry? I’ll suggest it means we will need to adapt and change and continue to think about what we can do for our clients. The devices we install, how we install them, how they are connected, and the information we can gather from them will all be evolving and could change the game over the next several years. These changes will allow for more data to be gathered (think Big Data) and, with all that data, information will need to be gleaned through analysis. Industry knowledge will then need to be applied to allow plants to run more efficiently and effectively with less down time. That’s a win for our clients, and when our clients win, that’s a win for us.
With the IIoT comes opportunity, and that opportunity is on our doorstep.