Manufacturers have the chance to monetize the insights obtained from the IoT generated data. AoT innovates manufacturing processes; improves interoperability across a large set of assets; and links machines, products, computers, people, and analytical resources into a single ecosystem. At the simplest level, AoT creates 2 important values in manufacturing, first growing the business and second operating the existing business more efficiently. AoT can be exploited by manufacturers to create smarter products, connect and integrate with customers, streamline innovation, and improve post-manufacturing support and service. Within the manufacturing industry, the oil and gas and energy equipment manufacturing would lead the wave of AoT adoption.
There would be prominent use of predictive maintenance and asset management and remote monitoring applications in the manufacturing sector. A recent study by Cisco also predicts that during the next 10 years, the bottom-line value generated from IoT solutions would be worth USD 8 trillion, of which 25%, i.e., USD 2.1 trillion would be from asset utilization. Manufacturing companies from heavy machinery and construction, industrial machinery, oil and gas, and transportation and logistics have already deployed or are planning to deploy IoT devices for effective utilization of their assets at remote locations and enhance their lifecycle. In the era of Industry 4.0 revolution, the manufacturing organizations are rapidly moving toward predictive maintenance solutions. Cloud-based AoT solutions have seen increased demand across various manufacturing companies.
IoT Analytics in Manufacturing
Oracle provides an IoT platform to develop new IoT services quickly, using Oracle portfolio of products. This enables organizations to handle growing volumes of data, streamline application development and deployment, automate integration of data, and protect the data across the entire IoT value chain. Oracle provides a variety of IoT analytics solutions, including Oracle IoT Cloud Platform as a Service (PaaS) and Oracle IoT applications with built-in analytics for Key Performance Indicators (KPIs), anomaly detection, comparative analytics, and predictive analytics. Oracle also provides an IoT cloud service which is a secure and scalable platform to quickly build and deploy IoT applications, and capture and analyze IoT data.
The Cumulocity IoT from Software AG is an IoT platform which connects any device from any of the cloud platforms and can be integrated with any of the applications. The platform is very quick to start, in just ten minutes and in very simple steps. The platform offers the benefit of not requiring coding and analysis for business users and analysis can be carried out without coding or programming skills. Users require the same APIs, data and analytics models everywhere, in the cloud and on-premises.