IoT Project is not as easy as you may think, nearly 70% of the implementation failed across organisations.
The emerging and inevitable future of industrial technology - Internet of Technology (IoT)
In the rapidly evolving landscape of industrial technology, the Internet of Things (IoT) stands as a beacon of innovation and potential. This emerging and inevitable future of industrial technology is characterised by its development and quick emergence, dominating the technological sphere with its scale and variety of applications.
IoT represents a seamless integration of physical devices, vehicles, appliances, and other items embedded with sensors, software, and network connectivity, enabling these objects to connect and exchange data. This interconnectedness forms the backbone of the IoT, where devices are not just passive components but active participants in the digital ecosystem.
The dominance of IoT technologies is evident in its widespread adoption across industries, from manufacturing and mining to agriculture and water & energy utilities. The global Industrial IoT market is forecasted to experience a 12.68% growth from 2024 to 2028, reaching a market size of US$525.20 billion by 2028. This ubiquity is not just a testament to the technology's versatility but also to its ability to transform traditional business models and create new opportunities for growth and efficiency. The scale of IoT applications is vast, ranging from smart cities to industrial automation and environmental remote monitoring. Each application leverages IoT to enhance operational efficiency, improve decision-making, and foster innovation.
Visibility into Production: IoT enables businesses to gain real-time insights into their production processes, allowing for immediate adjustments and optimisations. This visibility is crucial for maintaining quality and efficiency in manufacturing, logistics, and other industries.
Improved Quality and Reduced Cost of Quality Management: By automating and streamlining quality management processes, IoT can significantly reduce the costs associated with quality management systems (QMS). Sensors can automatically monitor critical quality variables, replacing manual inspections with automated workflows. This not only enhances quality but also saves time and resources.
Enhanced Machine Utilisation: IoT technologies can help increase machine utilisation by optimising workflows and reducing downtime. This is particularly beneficial in manufacturing, where efficient use of machinery can lead to significant cost savings and improved productivity.
Higher Productivity and Automated Production Cycles: IoT tools can automate workflows and equipment, speeding up operations and increasing productivity. This automation allows for faster data collection, analysis, and application, leading to improved processes and outcomes.
But hold on… Then Why don’t we see IoT industrial applications everywhere?
As we look towards the future, the IoT continues to evolve, driven by advancements in technology, changing business needs, and the increasing demand for smart, connected solutions. Despite the immense potential of IoT technologies to revolutionise industrial applications, the widespread adoption of these technologies in the industry is not as pervasive as one might expect.
According to research conducted by Cisco, as many as 60% of IoT projects encounter obstacles during the proof of concept stage, with only 26% ultimately deemed successful. Developing effective IoT applications, particularly in industrial sectors, poses significant challenges due to the unique technological demands of each industry. However, some common challenges are just universal pain points for the implementation of IoT solutions:
Connectivity: Establishing reliable connectivity is a primary challenge in IoT implementation. Issues such as slow or unreliable connections and network congestion can impede data transfer between devices, affecting user experience and operational efficiency. Additionally, managing large numbers of connected devices or operating with limited bandwidth can exacerbate connectivity challenges.
Data-handling: IoT applications are more than just IoT sensors, these devices generate vast amounts of data, much of which is humanly unreadable and unstructured. The lack of appropriate tools and expertise hampers the extraction of actionable insights from IoT-generated data, limiting the potential for growth and innovation.
Interoperability: Interoperability issues arise from the diversity of IoT devices and systems, each with its own standards and protocols. Ensuring seamless communication and data exchange between disparate devices and platforms can be challenging, particularly when dealing with devices from different vendors or service providers.
Security: Security is a paramount concern in IoT deployments due to the sensitive nature of the data transmitted between devices. Data breaches can have severe consequences, including reputational damage and financial losses. Threats such as cyberattacks and insider risks pose significant challenges to maintaining the integrity and confidentiality of IoT systems.
Investment: IoT projects often require significant financial investment, particularly as deployments scale up. The costs associated with IoT devices, infrastructure, and implementation can vary widely depending on factors such as device type, technology stack, and deployment complexity. Balancing the potential benefits of IoT adoption with the associated investment costs is crucial for ensuring a positive return on investment and long-term sustainability.
From IoT sensors selection and network connectivity tuning to firmware (device-side software) and IoT platform configurations, successfully implementing an IoT project is no easy work! Research suggests that the average duration for developing an IoT application ranges from 12 to 24 months. Delays in this timeline may occur due to inefficiencies in processes or inadequate utilization of appropriate tools. Nonetheless, the adoption of a robust IoT platform has been shown to substantially shorten the development period.
Ellenex: Your end-to-end shield against IoT complexity
Breaking through all these complexities for our industrial clients, Ellenex offers a transformative solution in simplifying IoT implementation, streamlining setup procedures, and ensuring seamless interoperability. With a focus on pre-configurations and integratability, Ellenex provides an end-to-end shield against the challenges commonly encountered in IoT deployments.
Catering to over 7 major industries spanning across 50+ countries, Ellenex specialises in delivering exceptional LPWAN (Low-Power Wide-Area-Network) sensors in collaboration with leading providers like NB IoT, Cat M1, LoRaWAN, and Wirepas. Whether you require inventory management in agriculture and farming, performance monitoring in construction and mining, or any other common monitoring solution for your operations, we have the expertise and solutions to support your needs effectively.
By leveraging Ellenex's comprehensive platform, businesses can significantly reduce the time, costs and specialisations required for IoT setup, from sensor selection to network connectivity tuning and beyond. With Ellenex, the intricate process of developing and deploying IoT applications becomes more efficient and accessible, empowering your organisations to harness the full potential of IoT technology with confidence.
Plug and use
With Ellenex IoT devices, everything is pre-configured and tested behind your scene! With a few steps of code inputting, your IoT devices will be performing remotely with robust connectivity with our software platform.
Pre-configured Data handling
All data payloads are received and transformed on your behalf, outputting and reporting them in a human readable and customisable form, which we named as “calculated parameters”.
Clear visualisations:
Utilise our built-in visualisations to display and manipulate a variety of time-series graphs to provide the valuable insights you need. We support filtration and mathematical aggregations that our industrial end users would typically require.
Customisable alerts
With a few click and set up selections, customised alerts based on the processed data will be running in our micro-service platform, reporting in real-time for any incidents where your monitored environment has exceed your defined thresholds.
Interoperability
Whether you have a preferred platform for integration and functionality or not, our platform offers seamless connectivity through both API and Webhook integrations. Whether you require real-time monitoring or not, we cater to your connectivity needs efficiently.
Ellenex Offerings
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