Megatrends Feed Information-Driven Manufacturing and the Industrial IoT
Keywords: Manufacturers, Information Technologies, Megatrends, Disruptive Technology, Automation, Business Paradigms.
Technology has not only flattened the world, it shrunk it; engendering more competitors, greater volatility, and faster innovation. The current pace of disruptive technology is focused on information technologies; however, megatrends in automation are making their appearance in systems and devices that both incorporate and leverage the megatrends over their lifecycles.
Early adopters of disruptive technology could expose their enterprises to greater risk; however, the risk of not doing so may actually be greater. How are enterprises to ascertain fact from fiction in such a fast-paced environment? This report highlights selected technologies that are appearing in the automation market and that ARC Advisory Group believes will have significant impact over the next several years, if not well into the future.
Megatrends in software and automation highlighted below are converging to disrupt conventional business paradigms to make the manufacturing environment increasingly dynamic and volatile. New business models such as "Industry 4.0," "Industrial Internet," "Connected Manufacturing," and "Collaborative Value Networks" are emerging that would be unattainable with the status quo. Manufacturers that choose not to embrace these megatrends will find it increasingly difficult to remain competitive, as those do will be better positioned to succeed.
Key findings include:
Information needs and sources are growing quickly. Manufacturers must develop strategies that best leverage all this information to drive performance and gain competitive advantage.
Megatrends in software and automation are converging in new generation of totally wireless hardware. Field devices that harvest energy for operational power, have the intelligence to diagnose their health, and communicate it wirelessly are appearing that will be useful in applications for measurement in remote locations.
Transformational opportunities in software and automation are yielding integrated systems, mechatronic devices, and intelligent devices to name a few. While software gets all the glory, innovations in hardware also incorporate some megatrends that will impact the lifecycle of devices and systems.
The opportunities around the emerging industrial Internet of Things (IoT) remains unclear, but the estimates are eye popping leaving enterprises of all stripes wondering how to participate. Before the vision can be attained, questions involving architecture, communication, process management, and security must be addressed.
Table of Contents
Information Technology Megatrends
Innovations in Hardware
The Industrial Internet of Things
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