Progress Announces New IIoT Solution:
A provider of application development and deployment technologies, Progress, recently announced a new “DataRPM self-service anomaly detection and prediction option for the Industrial Internet of Things (IIoT)” field. It will reportedly allow R&D and innovation groups to have better decision-making capabilities for their IIoT executions. Progress DataRPM will be hosted on Amazon Web Services (AWS), and certain qualified manufacturers will have access to free trials. Read the full story here.
IIoT Market Set To Grow:
The global Industrial Internet of Things (IIoT) market is expected to grow strongly between 2018 and 2023, according to a new report. The market revenue of $145.81 billion in 2017 is expected to grow to up to $232.15 billion by the year 2023, which is pretty impressive. Zion Market Research published the new report on IIoT growth on Monday, May 28. A growing need for cloud integration, big data analytics, and robotics as well as automation, in various industries, will likely be behind the growth of the global IIoT market. Companies like Quarterhill understand the importance of acquiring, managing, and growing IIoT properties, and the importance of the IIoT market in the very near future.
Strong Demand for IIoT In the Transportation Sector:
A new market report about the Industrial Internet of Things (IIoT), published by Transparency Market Research, says the market is growing. But in particular, there’s a strong demand for IIoT from the transportation sector. Governments in particular are taking initiative to use advanced systems of IIoT for the transportation & logistics industry. System integration services are probably only going to grow in the next few years, and industries like aviation will need it.
Some Companies Are Retrofitting Existing Systems to Better Utilize IioT:
Since very few companies are able to build a new facility with connected, “smart” devices from scratch, many plant managers and engineers are instead retrofitting existing systems with smart sensors to better utilize the many benefits of IIoT. This is a smart way for plant managers to join in on the IIoT trend, even if their companies can’t develop new systems themselves, but there are risks. Frequent risk assessments are needed when systems are retrofitted, to better determine potential security breaches and to predict and plan for worst-case scenarios. Every plant is different, and whether a full overhaul or security patches are needed upon updating devices for IIoT needs to be determined by engineers and plant managers in every instance.