Many industrial companies in Germany have recognized the potential of the Internet of Things (IoT) and implemented it in numerous applications. There are many advantages in terms of agility, flexibility, and scalability.
The Internet of Things (IoT) connects the physical world to the internet. It’s a comprehensive concept. To provide clarity, it is essential to understand the benefits.
There are less downtime and repair costs when sensors from the Internet of Things (IoT) monitor the machine park. The companies benefit from their IoT projects through higher profitability, falling prices, and increasing sales. Equally positive are fewer downtimes, higher utilization, faster return on investment (ROI), a better image, and a higher degree of innovation.
The most critical technology drivers for IoT success are artificial intelligence (AI), edge computing, and the fast network technology 5G.
The most important advantages at a glance
One of the top reasons companies turn to IoT is to reduce costs. These include reduced production costs and lower maintenance costs through automation. IoT can provide a “just-in-time” maintenance program for assets, avoiding costly machine replacements. With the proper insight, you always know the remaining useful life of a piece of equipment. If the machine needs to be repaired, the parts are already ordered, there are no waiting times for technicians, and everything is organized in advance.
IoT offers an excellent opportunity for companies to increase their revenues by enabling additional functions for their existing products and transforming their business model. This ranges from simply selling physical products to offering services. The “everything-as-a-service” trend is poised to become one of the top revenue-boosting opportunities of the future. With automation and real-time data, you can provide better customer service.
German companies show commitment.
The IDC study “Industrial IoT in Germany 2021 “shows a great deal of commitment from German companies to IoT: around 39 percent of companies using IoT platforms are building business ecosystems with innovation partners. New technological developments in edge computing, 5G, and AI/ML promote new application scenarios and IIoT adaptation.
The main advantages of IIoT lie in overcoming short-term challenges: 53 percent want to optimize processes and save costs, and 47 percent hope for better and faster decisions based on more accurate data. Overall, 59 percent of those surveyed are planning new projects.
IIoT offers significant added value through intensive networking with other data sources in production and other departments, such as ERP or CRM. Fifty-eight percent of the companies surveyed that use IoT platforms have already networked them extensively or in pilot projects with other IT systems in internal departments for better insights or new services and products.
Exclusive round table discussion
Silicon.de will soon host an exclusive event for technology managers, covering the latest advances in IoT and analytics for the industrial sector and showing how digitization, automation, and data analysis can improve efficiency, decision-making, and quality in industrial companies.
Suppose you want to know more about IoT and what possibilities result from advanced analysis options. In that case, you can find out more in the virtual round table discussion, to which Silicon.de invites you together with Amazon Web Services (AWS) and Kepler Data Tech. Christian Roller, Principal Business Development Manager & Client Engagement DACH at Kepler Data Tech, and Brintha Koether, EMEA Segment Lead, IoT at AWS, will participate in this session and open the discussion on what concerns, challenges, and experiences the participants bring. The target group of this session is CDOs, CIOs, CISOs, CTOs, digitization managers, innovation managers, production managers, and all people who deal with data strategies in the company.