The Industrial 'Internet of Things' Revolution

Keith Kohl

Written By Keith Kohl

Posted June 25, 2015

The ‘Internet of Things’ trend has reversed the flow of technology growth. Where once big businesses got new things first then spread them to the public, today’s technology is often first shown in the public then grown for use in big businesses.

This is what is happening now in the industrial markets.

RFID on Rig

The same sensors that give you your calories burned and steps taken day-by-day are now being used to monitor machinery. From car manufacturers to oil rigs, the Internet of Things is spreading and making industrial work much easier to manage.

Especially in work will offshore drilling rigs, this technology is helping companies take better care of their equipment. Sensors can indicate a problem and alert personnel immediately, but they can also keep track of long-term trends in the rig’s individual parts. This can make predicting future problems a possibility, and make planning for maintenance more efficient.

This can also help spur innovation in the industry. How many more improvements could you make if you were constantly getting information on what was and wasn’t working? And more, whole new streams of revenue can be opened with new business models that integrate the data these sensors collect.

All it will take is some creative thinking to get the Internet of Things into a massively profitable position in the industrial world.

To continue reading…

Click here to read the Venture Beat article.

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