Advanced technologies, such as robotics, artificial intelligence (AI), the Internet of Things (IoT), multi-access edge computing (MEC) and the cloud, are working together to make manufacturing more transparent and less wasteful. Manufacturing is rapidly seeing an alignment between operational technology (OT) and IT. IoT-based manufacturing, especially in the most critical applications that drive machine operations, needs the low-latency, high-bandwidth connectivity that edge computing and 5G can deliver.
Data is the vital currency that drives digital transformation in all industries, and it does so in manufacturing as well. The very sources of this information are among the many revolutionary aspects of Industry 4.0. IoT enables data from all sorts of "things," including machines and finished goods, to feed operating decisions through the use of connected sensors.
For example: Where previously only experienced operators could tell when a machine was in need of attention or repair, IoT sensors in the 5G manufacturing industry can flag maintenance requirements before machines actually fail, reducing downtime. IoT data feeds into AI and machine learning programs and enables MEC, so crucial decisions about machine failure can be executed at the edge. The overall equipment effectiveness (OEE), a key performance indicator, improves.
Another advantage of iot manufacturing is that it enables machines to run without interruption and replace parts only as needed. The 5G manufacturing industry is eager to realize the promise of IoT. Expect to see an explosive use of the technology; the market is growing by an impressive rate of almost 20% annually and is projected to reach an evaluation of $487.30 billion by 2024, according to MarketWatch.