Unleashing the potential of industrial and commercial IoT

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We're in the fourth industrial revolution, commonly referred to as Industry 4.0, where advanced technologies are reshaping the landscape of manufacturing and business. The idea of machines communicating with each other, robots milling around, and factories practically running themselves no longer seems like a sci-fi concept.

www.edn.com/, May. 22, 2024 – 

In the fourth industrial revolution, digital and physical worlds are converging to improve the industrial and commercial (I&C) industries. The Internet of Things (IoT) is a critical player in this revolution, disrupting every facet of the global economy and laying the foundation for a comprehensive overhaul of production, management, and governance systems.

With an estimated annual economic impact ranging from $1.6 trillion to $4.9 trillion by 2025 for factories and retail settings, the rising potential of IoT is becoming increasingly evident as advancements in connectivity open new doors for innovative use cases across the I&C industries.

Despite the rapid advancements in wireless network technologies, companies have been held back from achieving their maximum efficiency and productivity gains due to several operational challenges. Many businesses in industrial and commercial settings face substantial downtime, delayed production, high operating costs, low energy efficiency, and inefficient processes.

So, how can we leverage Industry 4.0's digital transformation to increase productivity, reduce downtime, lower costs, and drive future growth? The answer may lie in harnessing the power of the I&C IoT.

What's industrial and commercial IoT?

The Industrial Internet of Things (IIoT) involves the integration of smart technologies and sensors in the industrial sector, enabling the collection and analysis of data to optimize processes, improve worker safety, enhance energy efficiency, improve productivity, and predict potential issues. The IIoT is indispensable for navigating global competition, striking a balance between capturing new business and ensuring sustainable operations.

Commercial IoT encompasses the application of interconnected devices and technologies in the commercial business domain, where the integration of digital solutions aims to enhance retail efficiency, reduce labor costs, and create a seamless omnichannel experience. These advancements in smart retail technology are helping transform traditional business models and increase overall profitability for companies across the globe.

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