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Are You Ready For The Internet Of Things
| March 1, 2016
For over a half century, Advantest has been designing innovative electronic measuring equipment and semiconductor test systems...
Article | February 10, 2020
As the industrial IoT market continues to expand at rapid rates, companies across the world are reaping the benefits. Utilizing this growing network of tools and systems, businesses have been able to prevent costly downtime, decrease product development costs, enhance customer engagement and satisfaction and acquire and implement intelligent data for strategic planning purposes.The potential benefits are seemingly endless, and the list of organizations that are embracing this industrial revolution is continuing to grow, so let’s highlight some of the main IIoT companies you need to know for a number of the most common IIoT use cases.
There are already 20 billion IoT-connected devices, and 8 billion of those are devices used by enterprises, according to a report by Gartner. The impact of the Internet of Things market is potentially $11 trillion by 2025. The investment in IoT has come primarily from large businesses, but the technology is increasingly available via ‘as-a-service’, making it possible for businesses of all sizes to benefit. The ‘as-a-service’ model reduces the cost of ownership and capital expenditures and makes it easy for small businesses to investigate IoT with smaller up-font investments and less risk. Frank Della Rosa, research director at IDC, said that “Software as a Service (SaaS) continues to be the most highly deployed cloud segment, representing a commanding 62.4% of the total cloud market revenues.”
Most would agree that the adoption rate of the Internet of Things (IoT) has fallen well short of predictions. Given the proven benefits that the IoT can deliver, such as preventative maintenance and real-time asset management, it’s confounding that every company isn’t well on its way to leveraging IoT. There are far more attempts to adopt the IoT than successes, says Terri Foudray, founder and CEO of Rumble, as well as several reasons that the IoT is not meeting or exceeding adoption forecasts. The culprits behind adoption failures include the lack of available talent, the overwhelming and complex volume of prospective vendors, the lack of a solid business case to define success, and the derailing of initiatives caused by unanticipated political and cultural pitfalls that often accompany enterprise-wide technology adoption.
Energy management and efficiency utilization are the challenges for building owners, facility managers, and tenants. With the traditional metering solutions, building owners can’t measure accurate consumptions, usage patterns, and downtimes. It is simple: You can’t manage if you can’t measure. Building owners and tenants have been speculating about bettering and changing their approach to optimize energy consumption by deploying smart submeters. In contrast to traditional electrical meter, a smart submeter is infused with network connectivity features to upload the data. They track, monitor, measure, and upload data to servers for real-time visibility. Earlier building owners used to bill according to the space occupied by the tenants. Think about inaccurate billing – have you ever seen a bill that confused you?
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