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How is IIoT transforming our world?
Igus has published a white paper entitled: ‘How the Industrial Internet of Things has led to the development of next-generation smart plastics with sensing capabilities built in.’ Set to grow at a CAGR of 8 percent from now until 2020, when IIoT will reach a value of over $150bn, the paper assesses the advantages and benefits it brings.
“There is now a discernible trend towards communication-capable, intelligent devices being used to create integrated systems across all levels of automation,” says Matthew Aldridge, managing director at Igus. “Such data transparency opens up new business models for machine and plant builders across a wide range of industrial sectors.”
IIoT is helping manufacturers capture and analyse this data, warning machine and plant builders of problems before they occur. The tracking of patterns to indicate failure would be an enabler to condition based modelling, unleashing the true potential of predicative maintenance. “This predicative approach takes the black art out of maintenance, and turns it into a science,” adds Aldridge.
The white paper can be downloaded from the Igus website at: www.igus.co.uk/smartplastics
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