ARC's Industrial Internet of Things (IIoT) concept can help you understand and incorporate the latest IoT-related developments and best practices into your company's asset and product lifecycle management strategy.
The automation and management of asset-intensive enterprises will be transformed by the rise of the Internet of Things (IoT), or as some people call it M2M, Industry 4.0, or simply Industrial Internet. Compared with the Internet revolution, many product and asset management solutions have labored under high costs and poor connectivity and performance. This is now changing. New high-performance systems that can support both Internet and Cloud connectivity as well as predictive asset management are reaching the market. New cloud computing models, analytics, and aggregation technologies enable broader and low cost application of analytics across these much more transparent assets.
These developments have the potential to radically transform products, channels, and company business models. This will create disruptions in the business and opportunities for all types of organizations - OEMs, technology suppliers, system integrators, and global consultancies. There may be the opportunity to overturn established business models, with a view toward answering customer pain points and also growing the market in segments that cannot be served economically with today's offerings.
Mobility, local diagnostics, and remote asset monitoring are important components of these new solutions, as all market participants need ubiquitous access to their assets, applications, and customers. Real-time mobile applications support EAM, MRO, inventory management, inspections, workforce management, shop floor interactions, facilities management, field service automation, fleet management, sales and marketing, machine-to-machine (M2M), and many others.