States will provide assistance to the Commission.
In the rapidly evolving world of industry, the Internet of Things (IoT) is making a significant impact. One such example is Vestergaard Company, which uses IoT technology to optimize the efficiency of their mission-critical aircraft equipment.
The IoT landscape is dominated by a select few providers, such as PTC, Siemens, Cumulocity, and Teamviewer. These companies offer proven, integrated IoT platforms with extensive experience, broad technology support, robust security, and faster deployment. This approach reduces the complexity and risks associated with developing custom IoT systems from scratch.
Cumulocity, for instance, provides an IoT platform, while Siemens offers MindSphere and PTC offers the ThingWorx IIoT Solution Platform. Teamviewer, on the other hand, offers remote connectivity for embedded devices with TeamViewer IoT.
The implementation of IoT platforms is based on an existing company's IT/OT architecture. These platforms connect products, machines, processes, databases, systems, and people, transforming business processes into interactive and traceable work in networks.
Use cases for IoT platforms are diverse, including machine monitoring and predictive maintenance, digital twin, remote control/maintenance, and product-as-a-service. Short-term benefits include improved monitoring and remote access, reducing machine downtime. Long-term benefits extend to the ability to support new service-oriented business models.
The market maturity of IoT platforms is at level 3-4, marking the beginning of a consolidation phase. This maturity brings with it mid-term benefits such as better process control quality, flexibility, and reduced maintenance and service costs.
However, the decision to develop an IoT platform in-house or to purchase from a provider (the 'Make or Buy' decision) hinges on a company's core competencies. A high-level business strategy for digitalization and digital architecture is a prerequisite for IoT platform implementation.
As the industry continues to digitalize, IoT platforms are increasingly becoming the next generation of commercial software. Over time, legacy systems are replaced during the implementation process, ushering in a new era of connected, efficient, and interactive industry operations.
Read also:
- Linde Wins Major Engineering Design Contract for Equinor's Low Carbon Hydrogen Project at H2H Saltend, Progressing Towards a Greener Future
- Transportation via roads plays a critical role in India's shift towards clean energy.
- EU Commission President von der Leyen emphasizes continuity, affirming that Europe's automotive future will be powered by electricity
- Zigbee and LoRa Low-Power Internet of Things (IoT) Network Protocols: The Revolution in Data Transmission and Networking
