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  • Global IoT Investment Market Survey (Part 1): Top 10 by Application? Commentary along with success stories | Business + IT
  • Apr 06, 2023

Global IoT Investment Market Survey (Part 1): Top 10 by Application? Commentary along with success stories | Business + IT

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    World Market Research for IoT Investment (Part 1): Top 10 Applications? Commentary with Success Cases

    In the manufacturing industry, the introduction of IoT is increasing for the purpose of improving production processes and strengthening maintenance operations. In this article, from the market research report "IoT Use Cases: Adoption Report (2021)" by the German market research company IoT Analytics, we will divide the top 10 IoT introduction cases into 5 parts. I will introduce them one by one.

    Editorial Cooperation: Global Information

    Editorial Cooperation: Global Information

    We have partnered with over 300 major research companies around the world to provide market research reports in Japan and other parts of the world. Partners publish approximately 100,000 reports across multiple industries, with over 2,000 new publications published each month. In addition to selling reports, we also act as an intermediary for outsourced research to business partners.
    Company URL: https://www.gii.co.jp/

    Key points of this article

    Reasons to learn about IoT implementation cases


    Six out of the top 10 IoT implementation rate rankings today are aimed at making operations smarter. It aims to improve production processes in the manufacturing industry, strengthen maintenance operations, and promote other operations (energy generation at energy supply companies, health management operations at hospitals, store operations at retailers, etc.). Three of the top 10 were for smart supply chains and only one was for smart products in the field.

    Here, we will introduce 10 cases with a high introduction rate in order of ranking.

    10th: On-site Track & Trace

    On-site Track & Trace = Locating and tracking products on-site (production sites, ports, distribution centers, warehouses, etc.) , to check the history.

    With the availability of low-cost sensors and tracking tools, it has become possible to track goods and tools relatively cheaply and easily at construction sites, ports, and even inside buildings (factories, etc.). I was. Of the professionals surveyed, 29% have implemented such a solution.

     In our study, the median cost of a full-featured tracking solution in the field was just $25,000, the lowest of all use cases. However, as the number of assets tracked increases, so does the cost.

    Voice of a Company that Has Implemented
    "Our company has about 1000 units of inventory that need to be managed, but the introduction of on-site tracking tools has improved the efficiency of searching for products and reduced working hours. In addition, it is now possible to check the inventory status in real time." (Chief of the IT department of a retail company in Singapore)

    Case study
    German auto parts manufacturer Continental has implemented KINEXON's real-time tracking solution at its distribution center and production site in Regensburg. Real-time tracking of more than 50 transport vehicles and 3,000 transport trolleys on a site of 30,000 m². Continental was able to locate these objects with an accuracy of a few centimeters, visualize the flow of goods in the supply chain and improve the overall throughput.

    9th place: Predictive maintenance

    Predictive maintenance = Uses real-time IoT sensor data and artificial intelligence (AI) technology to determine when to perform maintenance on specific equipment to do.
     29% of companies are investing in solutions that combine AI and maintenance to predict the remaining useful life of assets and reliably repair them before they fail. Predictive maintenance is a trending topic, with 40% of surveyed adopters planning to invest heavily over the next two years.

    What our customers are saying
    “By actively monitoring high-value assets and getting many inputs from various data points (temperature, vibration, throughput), Now we can analyze the health in real-time, and we no longer have to wait until there is a problem with a critical asset before taking maintenance action." - IT Director, US Oil & Gas Company

    Case Study
    US consumer goods manufacturer Colgate-Palmolive leverages predictive maintenance solutions to optimize production capacity and prevent costly downtime. We have also installed wireless sensors on 2000 machines (tube making machines, liquid handling machines, etc.) to collect machine data. Alerts are sent to staff when a temperature rise is detected, eliminating approximately 200 hours of downtime and preventing a reduction in production of 2.8 million tubes of toothpaste.

    [next page] 6th place is "sure" for rapid growth in the future? 42% of companies plan to make significant investments

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