The Fourth Industrial Revolution will leverage the Internet of Things by connecting hundreds of millions of sensors to create smart factories and manufacturing lines to bring more efficiency, safety, and profitability to an industry that faces many challenges.
The digitalization of legacy processes and equipment is supporting some great ROI numbers for industrial operations. ABI estimates that across all manufacturing use cases, the introduction of cellular IoT to the factory floor will result in 8.5 percent operational cost savings, with a return on investment of of more than 9 times over five years for some use cases 1. And McKinsey reported that manufacturers undertaking digital transformation have realized a reduction in machine downtime of between 30 and 50 percent; a 15 to 30% improvement in productivity; and a 10 and 20% decrease in costs2.
Find out in this quick three-minute IIoT Transformation Assessment to benchmark yourself against other industrial companies, discover what’s available in the world of IIoT and how you can advance your IIoT journey.