Benefits vs. Risks of IIoT
The manufacturing sector is poised to benefit the most from industrial internet of things solutions. With $933.62 billion in the global IIoT market over the next few years, it’s about time you look into the benefits of using the IIoT in your organization. But don’t forget the risks that come with the IIoT, as well.
Some benefits include:
- Facility management — Sensors can monitor temperature, vibrations and other factors that could lead to less than optimal operating conditions in manufacturing facilities.
- Inventory management — IoT solutions can reduce the risk of inventory management mistakes.
- Enhanced industrial safety — Key performance indicators of health and safety can be monitored constantly to ensure better workplace conditions.
- Optimization of logistics and the supply chain — Real-time supply chain information will become available through the reliance on an IoT solution.
- Smart metering — Through the use of IoT sensors, manufacturers will know how much resources like electricity, water, fuels, etc., are consumed and what for.
As amazing as those benefits may seem, they don’t come without risks. The IIoT also has challenges that include:
- Security vulnerabilities — IoT devices communicate automatically with each other, so in the absence of a secure and properly encrypted network, the adoption of IoT could create new security challenges.
- Absence of standards – Many automation devices already operate in an array of industrial and manufacturing settings. But various protocols are being utilized, and there’s no standardization that will ensure interoperability.
- Cost of implementing IIoT solutions — Many companies worry about the return on investment for implementing IoT infrastructure and remain hesitant to do so.
Still not sure if the IIoT is a good fit for your organization? Look no further than 2W Tech to start you off on the right foot with the Industrial Internet of Things. 2W Tech is a full-service IT consulting firm that specializes in the manufacturing space, so we can tailor solutions to your needs. Contact us today for help with your IT demands.