Published on 05/29/2017 | Market Sizing
The application of the Internet of Things (IoT), Big Data, and Analytics technologies to industrial automation is increasingly discussed worldwide since a couple of years. The general goal is to improve production line performance, lower operations costs, and to enable short response time to individual customer requirements. This will be a reversal paradigm shift to the centralized mass production introduced by Henry Ford (and actual still today) which lowered car prices significantly and enabled more people to buy and the market to expand. But now, as IT-based technologies such as IoT, Big Data and Analytics are becoming available, a change to manufacturing of inexpensive, personalized quantity-one orders seems to be possible.
The start of the IoT-based manufacturing era is supported by a number of industry groups (such as Industry 4.0 originated in Germany) and many automation companies offer first products and solutions. First applications are of course supplements to existing machines and automation systems. This will, however, be only a small and first step compared to what is discussed as final “IoT-based lot-size 1” production concept. Both existing and new suppliers of the automation industry have to work hard on understanding the new manufacturing paradigm in all details and to provide the enabling hard- and software products.
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