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Today, many industrial assets are not connected, nor is the volume of operational data they generate used intelligently to guide decisions. On the other hand, the industrial sector is being called upon to decarbonize and aim for sustainability of operations, while still meeting the familiar targets of performance, safety, and cost reduction. Would it be possible to reduce or even eliminate this mismatch, i.e. use the untapped potential of industrial assets to make them more sustainable?What a recent ABB survey revealed is that there is a clear understanding among respondents that business performance and sustainability should go hand in hand, i.e. in the current global scenario
The industrial sector is one of the most relevant among those driving the Internet of Things (IoT) market. The so-called Internet of Industrial Things, or IIoT, has great potential to deliver a wide range of benefits to manufacturing organizations through real-time monitoring and data analysis, leading to potential cost savings and increased profits. And new use cases are expected to be driven by edge computing/cloud architectures and 5G networks, according to research from Reply.In addition to higher productivity and better quality control, a particularly interesting area of improvement has been in additive manufacturing, which relies on the partnership between IIoT and Artificial Intelligence to reduce material waste and consume less energy.
5G networks in the industrial IoT market could reach USD 15.7 billion by 2026, with a compound annual growth rate of 79.1%, benefiting installations with higher transmission speeds, higher density of connected devices on the same network, and lower latency between received commands and performed actions.
The global smart buildings market is expected to grow from EUR 11.8 billion in 2020 to EUR 32.6 billion by the end of 2025. The figures are from a recent study by Reportlinker.com and prove just how much interest in digitized infrastructure and analytics solutions for building management optimization is increasing.While the total number of truly intelligent buildings worldwide remains small, an impressive array of technology has been developed for this emerging market. These innovations promise to do for buildings what smartphone technology has done for the phone, radically altering the way people interact with the built environment.
