Page 14 - Metalforming Magazine April 2022

Internet of Things
IoT Sensor Market on a Rapid Climb
A study from Emergen Research pre- dicts the global market for sensors to enable Internet of Things (IoT) technology to reach $204.74 billion by 2028, at a steady compound annual growth rate of 30.8 percent during the forecast period. Contributing to the rise is the growing trend of smart factories and automation of various manufacturing processes.
The use of IoT-enabled sensors and devices to increase productivity and allow more flexible manufacturing processes is on the rise, say the study’s authors. Sensors are increasingly being used in IoT devices in the manufacturing and automotive industries, as the need to track, regulate and increase operational efficiency increases.
Sensors in IoT devices increasingly are being used for employee protection and well-being, the study finds, as well as to enable profitable process workflows and better space utilization. Over the fore- cast period, technological advances in sensors, field devices and robotics are expected to improve sensor deployment in an increasing range of IoT devices, with an emphasis on centralized moni- toring, cloud, and quality inspection.
5G Technology Ensures Connectivity Reliability
A report from Frost
& Sullivan, titled Growth
Opportunities for 5G in
Process Industries,
finds that the limita-
tions of 4G networks
are enabling 5G tech-
nology to become an
important ally for
Industry 4.0. The
high bandwidth and
low latency provided by 5G networks,
along with the organizational and economic benefits of industrial digitization and falling prices of technologies such as machine learning and Big Data analytics, are pushing manufacturers toward imple- menting Industry 4.0 solutions.
“Industry 4.0 and the industrial IoT are increasing the number of smart sensors at manufacturing plants and enabling machine-to-machine communications,” says Marina Salaber, research analyst, Industrial Practice, Frost & Sullivan. “5G broadband’s capabilities enable connec- tions to numerous devices and simulta- neously process large masses of data, addressing the concern about the increas- ing requirement of data traffic that modern factories need.
“High reliability allows businesses to incorporate automation processes that depend on the correct network operations,” Salaber adds. “5G, in this regard, surpasses the boundaries of digitization, allowing a dependency on network processes and protecting companies from high production costs and stoppages that connection dropouts cause."
The report also discusses the impact of the pandemic on maintenance activ- ities, noting that advanced predictive maintenance through IoT is transform- ing risk management in all industry verticals.
“Manufacturers must partner with artificial-intelligence, 5G network, and data-management software providers to achieve suitable energy management,”
say the report authors. “They
also can utilize cutting-edge software such as machine learning and deep data analytics to process the information collected and provide an end-to-end solution.”
Also covered: use of autonomous and collaborative robots to increase the reli- ability and efficiency of production lines.
Access the report here: frost.ly/6zn.
Free Webinar:
The State of Smart Manufacturing
...Respond to Market Adversity with Agility, Improved Processes, and Technology Adaptation, runs April 20 at 1 p.m. ET, courtesy of MetalForming magazine and Plex Systems. Join speakers Michael Hart, Plex director of product strategy–manu- facturing and Industrial IoT, and Jeff Karan, director of enterprise technologies at metal stamper and fabricator G&W Prod- ucts, for a discussion surrounding Plex’s recent global survey of 321 manufacturers and the need for agility, technology adop- tion and improved processes to respond to market adversity.
Hart will focus his talk on the current state of smart manufacturing, the chal- lenges facing manufacturers and expec- tations for the future. He’ll also provide actionable steps to create your own tech- nology adoption plan and embrace the future of smart manufacturing.
Following Hart, Karan will discuss G&W Products’ smart-manufacturing journey. Located in Fairfield, OH, G&W serves a variety of industries including defense, aerospace, construction, industrial hard- ware, retail display and railcar.
Learn more and register to attend: www.tinyurl.com/ypruh4bw
12 MetalForming/April 2022
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Growth Opportunities for 5G in Process Industries
Integrated Digital Technologies and Internet of Things Connections Drive Smart Manufacturing Transformation
Global Industrial Automation & Process Control Research Team at Frost & Sullivan