THE IMPORTANT KEY TO SUCCESSFUL NEW IOT TECHNOLOGY
IoT technologies are offering exciting new capabilities, and many manufacturers are moving quickly to adopt them. Subsystems such as pumps and power units are now equipped with sensors and network connectivity that allow plant operators to have the visibility they need to boost efficiency and reduce downtime. This is a major driving force for productivity in the manufacturing industry.
According to McKinsey, IIoT will generate an economic value of between $1.2 trillion and $3.7 trillion by 2025. These values will be made possible through the creation of new energy efficiencies, labor productivity, inventory optimization and improved worker safety.
In a recent blog post, Parker talks about an important key factor to note for successful IoT technology integration. Retrofitting legacy devices with IoT technology will allow them to work alongside new first-fit equipment, saving your older equipment and company money while still taking full advantage of new technology. Many outdated devices are still capable of being updated with new connectivity and IoT.
For example, air compressor inefficiency often results in wasted energy in manufacturing. New IoT integrated devices feature highly efficient sensors that can identify leaks and issues within the air system. This piece of equipment is extremely useful, and while it may seem that only modern technology has this capability, these sensors can actually be applied to older equipment, allowing them to have the same modern functions as new IoT technology.
For manufacturers, staying on top of industry trends and technology is critical to maintaining a competitive edge. While investing in new equipment may appear to be the answer, upgrading your current equipment to hold current IoT capabilities can actually give you the same results while saving you money at the same time.
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