Industry operations have become smarter, and big data has never been more important. In the next 2 years, more than 76% of manufacturers will increase their use of smart devices into their manufacturing processes. The industrial sector is turning to manufacturing cloud solutions to reduce move CAPEX to OPEX, create new and better products, and make smarter business decisions. IDC estimates the direct Internet of Things (IoT) market will grow to more than $1.7 trillion by 2020 with a compound annual growth rate (CAGR) of 16.9%.
Organizations that have already implemented IoT solutions have seen their maintenance costs drop by 30%, and predictive maintenance has reduced machine-specific failures by 70%. The ROI of IoT is tremendous. If you nod adopted an IoT strategy, be assured your competition has.
Big data has especially become more prevalent in manufacturing. From data, we reveal patterns, from patterns models, models predictions, predictions answers and insights that transform organizations. Sensors will allow organizations to monitor, control, and improve operations such as predict equipment failure, automatically log data, notify users of anomalies.
Unfortunately, some traditional industrial jobs will become obsolete due to IoT. While production and assembly roles will decrease, the number of IT roles will increase as research, analytics will be needed.