Hello and welcome to my first newsletter! I’m excited to share with you the latest insights and trends on how to leverage technology to improve your business performance. In this newsletter, we’ll explore the recent developments in Industrial IoT. According to a report by Research and Markets, the global Industrial IoT market size is expected to grow from USD 252.23 billion in 2023 to USD 461.13 billion in 2027 at a CAGR of 16.3%. Some of the key drivers for this growth are the increasing demand for industrial automation, the adoption of cloud computing and artificial intelligence, and the emergence of 5G networks. So, let’s get into recent trends in Industrial IoT!
Wireless advancements: 5G is the next generation of cellular networks, and it is well-suited for IIoT applications. 5G offers higher bandwidth, lower latency, and greater coverage than previous generations of cellular networks, making it ideal for transmitting large amounts of data from remote devices. This can improve the quality and reliability of industrial operations, as well as enable new use cases such as predictive maintenance, remote monitoring, and asset tracking. You can dive deep into the 5G starting with below documents: Cisco - Demystifying 5G in Industrial IoT Qualcomm - How will 5G transform Industrial IoT
Increased Interoperability & IT/OT convergence: More and more data exchange and integration between industrial devices, systems, and cloud platforms are required. Two enablers of this trend are the Asset Administration Shell (AAS) and Industrial DataOps tools. The AAS is a standard for describing industrial assets electronically, which can also create digital twins. Industrial DataOps tools are designed to manage and optimize industrial data flows, such as aggregation, standardization, and contextualization. These tools can help deliver data to various applications, such as analytics, AI, and ML platforms. These technologies can result in significant benefits for industrial companies. Here are two articles to think about this topic from technical and business perspectives: Converge IT and OT to turbocharge business operations’ scaling power A Layered Middleware for OT/IT Convergence to Empower Industry 5.0 Applications
Cybersecurity advancements: As IIoT becomes more widespread, cybersecurity will become increasingly important. Manufacturers need to take steps to protect their IIoT networks from cyberattacks. Some of the advancements that are expected to see in this area:
Increased use of encryption: Encryption is a key way to protect data from unauthorized access. In 2023, it is expected to see more manufacturers using encryption to protect their IIoT data.
Improved authentication methods: Authentication methods such as multi-factor authentication (MFA) will become more common in 2023. MFA adds an extra layer of security by requiring users to provide two or more pieces of identification, such as a password and a security code.
More robust security monitoring: It is also expected to see more manufacturers using security monitoring tools to detect and respond to cyberattacks. These tools can help to identify suspicious activity and alert security teams to potential threats.
Hello and welcome to my first newsletter! I’m excited to share with you the latest insights and trends on how to leverage technology to improve your business performance. In this newsletter, we’ll explore the recent developments in Industrial IoT. According to a report by Research and Markets, the global Industrial IoT market size is expected to grow from USD 252.23 billion in 2023 to USD 461.13 billion in 2027 at a CAGR of 16.3%. Some of the key drivers for this growth are the increasing demand for industrial automation, the adoption of cloud computing and artificial intelligence, and the emergence of 5G networks. So, let’s get into recent trends in Industrial IoT!
Wireless advancements: 5G is the next generation of cellular networks, and it is well-suited for IIoT applications. 5G offers higher bandwidth, lower latency, and greater coverage than previous generations of cellular networks, making it ideal for transmitting large amounts of data from remote devices. This can improve the quality and reliability of industrial operations, as well as enable new use cases such as predictive maintenance, remote monitoring, and asset tracking. You can dive deep into the 5G starting with below documents: Cisco - Demystifying 5G in Industrial IoT Qualcomm - How will 5G transform Industrial IoT
Increased Interoperability & IT/OT convergence: More and more data exchange and integration between industrial devices, systems, and cloud platforms are required. Two enablers of this trend are the Asset Administration Shell (AAS) and Industrial DataOps tools. The AAS is a standard for describing industrial assets electronically, which can also create digital twins. Industrial DataOps tools are designed to manage and optimize industrial data flows, such as aggregation, standardization, and contextualization. These tools can help deliver data to various applications, such as analytics, AI, and ML platforms. These technologies can result in significant benefits for industrial companies. Here are two articles to think about this topic from technical and business perspectives: Converge IT and OT to turbocharge business operations’ scaling power A Layered Middleware for OT/IT Convergence to Empower Industry 5.0 Applications
Cybersecurity advancements: As IIoT becomes more widespread, cybersecurity will become increasingly important. Manufacturers need to take steps to protect their IIoT networks from cyberattacks. Some of the advancements that are expected to see in this area:
Increased use of encryption: Encryption is a key way to protect data from unauthorized access. In 2023, it is expected to see more manufacturers using encryption to protect their IIoT data.
Improved authentication methods: Authentication methods such as multi-factor authentication (MFA) will become more common in 2023. MFA adds an extra layer of security by requiring users to provide two or more pieces of identification, such as a password and a security code.
More robust security monitoring: It is also expected to see more manufacturers using security monitoring tools to detect and respond to cyberattacks. These tools can help to identify suspicious activity and alert security teams to potential threats.
