23 March 2023
Slowly but surely, manufacturing businesses are beginning to move away from product-only business models, exploring ways to unlock new revenue streams through servitisation.
Challenge
The case for servitisation is significant, especially in regions where advanced manufacturing industries dominate like the West of England – as identified in a recent report by Digital Catapult.
Of the many advanced digital technology options available to facilitate the journey to servitisation-based business models, the Internet of Things (IoT) has clear potential. Industry adoption of future IoT technologies will increase productivity, lower costs, improve product development and improve customer insights. IoT can be used to collect and aggregate data from sensors, improving traceability of assets and supply chains, and can even be used to retrofit legacy equipment.
However, while many manufacturers are aware of the importance of IoT for their businesses, many still struggle to identify use cases for IoT within their business, effectively monitor their assets, or understand the technical architecture required for meaningful adoption of IoT solutions.
Results and the digital opportunity
For DETI, Digital Catapult has produced two technical reports on the Internet of Things and how it can be used by manufacturers to create robust servitisation solutions.
IoT Monitoring Report: IoT monitoring accounts for more than one third of IoT use cases. Digital Catapult’s IoT Monitoring Report explores the value of monitoring assets, including why data is such a crucial component of this.
Taking the reader through the journey of developing an IoT monitoring use case, it answers longstanding questions on how effectively asset monitoring can be achieved through the adoption of IoT. It summarises which components and technologies are necessary for achieving an IoT solution in general and provides guidance on best practices - helping the reader navigate the technology landscape.
IoT Architecture Report: IoT architectures are complex; and much of the current challenges relating to scalability; interoperability and security relate to poor architectural choices.
The IoT Architecture Report details the sophisticated architectural components, technology and methodologies required for achieving an IoT solution. Discussing the open and proprietary technology choices available – taking sensors, edge compute, networking and cloud compute and service technologies into consideration – the report explores how IoT can serve an invaluable business purpose.
The report provides key information on where the key architectural decision points are, and the implications for return on investment, as well as looking at how IoT can be integrated into the fabric of organisational operations – empowering readers to start their IoT journeys.
Access to the IoT Monitoring and IoT Architecture reports and environments is available from [email protected]
