What is Industrial Evolution?

The current stage of industrial revolution is punctuated by the introduction and expansion of a few key technologies across many industry verticals.

Internet of Things (IoT), Artificial Intelligence (AI), and next generation computing technologies are all poised to transform industrial operations. While every market segment will ultimately benefit, a few leading industry verticals are anticipated to realize early and substantial benefits.

Industrial Evolution involves exploitation of emerging technologies such as IoT, data analytics, and AI to continually improve solutions for producing and servicing products.

Industrial IoT (IIoT) technologies will facilitate a connected manufacturing environment in which production becomes increasingly more efficient. In addition, IIoT will radically change Product Lifecycle Management (PLM), bringing producers much closer to consumers, and transforming many products into services via the cloud services “as a service” business model.

What is Industrial Evolution?

The current stage of industrial revolution is punctuated by the introduction and expansion of a few key technologies across many industry verticals.

Internet of Things (IoT), Artificial Intelligence (AI), and next generation computing technologies are all poised to transform industrial operations. While every market segment will ultimately benefit, a few leading industry verticals are anticipated to realize early and substantial benefits.

Industrial Evolution involves exploitation of emerging technologies such as IoT, data analytics, and AI to continually improve solutions for producing and servicing products.

Industrial IoT (IIoT) technologies will facilitate a connected manufacturing environment in which production becomes increasingly more efficient. In addition, IIoT will radically change Product Lifecycle Management (PLM), bringing producers much closer to consumers, and transforming many products into services via the cloud services “as a service” business model.

Current Trends and Market Outlook

Industrial Evolution Stages

Industry is constantly evolving, moving through developmental stages. One of the most high impact stages of evolution to date has been the industrial revolution that began in the 1700’s and involved transition from a predominantly agrarian and rural society to a more urban and industry focused culture in Britain and the United States. This would lead to ultimately to the introduction of specialized machines in factories for mass production of goods.

The world is now experiencing its fourth stage of industrial evolution, which involves a marriage of physical and cyber systems for even greater productivity as well as new business models that were heretofore incomprehensible. This 4th stage (also known as Industry 4.0) builds upon the evolution from the previous three stages, which can be roughly described as follows:

Phase 1: Mechanization driven by industrial steam-powered machines
Phase 2: Assembly Lines for mass production of goods powered by electricity
Phase 3: Automated production enabled via computers and software controlled processes
Phase 4: Internet-based control and convergence of physical and cyber systems

The fourth stage, also referred to as Industry 4.0, depends upon the maturation of a few important technologies including adaptive manufacturing, AI, big data analytics, IoT, and advances in robotics. Industry 4.0 solutions will benefit many industries including traditional manufacturing as well as any other industry verticals which rely upon efficient and effective business automation.

Industrial IoT Data

Industrial IoT DataData is generated in IoT networks/systems by various sensors, gateways and devices. The volume of data generated in IoT is directly proportional to the number of devices connected in the network as well as usage.

IoT data comes from many sources. Major IoT data source segments include Smart Systems (systems interacting with other systems via automation), Ambient Systems (data from the business and/or consumer environment), Personal Assistants (intelligent agents that act on behalf of users), and Quantified Self (self-improving products) to name a few.

Identifying value from large amounts of IIoT data is a major challenge

Data generated in IoT will be primarily machine generat