Radwell E Magazine Issue 01 - Page 9



OF THINGS
& MANUFACTURING
The Manufacturing Sector’s
Embrace of IoT
In 2016, the manufacturing industry spent over
$178 billion on IoT technology, which was more
than twice the amount spent by the second largest
sector, transportation. Despite the media focus on
home and consumer applications, industry has
embraced IoT to a far greater extent.
Companies use IoT for a variety of specialised
purposes. Over three-quarters of companies who
have invested in IoT claim that it has helped to
develop their insight into market trends and
tendencies, while two-thirds say it has served as a
critical factor in expanding competitive advantage,
according to US telecommunications firm,
Verizon.
IoT's most obvious applications in manufacturing
are in the manufacturing plant itself, with sensors
and devices that monitor the production process,
safety, and other issues. However, there are other
applications which also help to support
manufacturers, for example, in warehousing. Mail
order companies, such as Amazon, utilise
massive warehouse distribution centres and have
worked with IoT technology to increase efficiency
for years. Manufacturing is benefiting from the
same technology when it comes to product storage
and distribution.
09

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