According to the latest data available from Eurostat, it is the fifth European nation in terms of turnover in the industrial sector and GVA in the sector. Experts estimate that the economic impact of IoT on the industry will reach $11.1 trillion by 2025.
The application of IoT in the industry as a strategic sector is essential to achieve this goal. With it, devices acquire and analyze data from corresponding locations, people and assets to act on insights at the industrial edge.
The objective to be achieved by incorporating IoT lies in improving the efficiency of the industrial sector and optimizing its production. Likewise, IoT technology in the industrial field offers the ability to have real-time information, making decisions based on updated and corresponding data from all the value chain elements.
Some of the great competitive advantages that IoT offers to the industry are clear:
Are we prepared to achieve its implementation? Yes, if we overcome six great challenges :
Process automation and traceability, optimize production resources, create new business opportunities, and maximize efficiency and agility throughout the value chain.
Strengthening and flexibility of the entire chain using robotics and IoT. Digital replicas to reduce risks and analyze hypotheses to guarantee success.
Predictions to improve the user’s relationship with our product or service and explore the pay-per-use option.
Increase in the technological security layer, focusing on software design.
Incorporation of new work methodologies and new collaborative tools. Reorganize the industry based on a cultural change that affects all levels.
Optimizing the demand for energy consumption at all points of the production chain and reducing waste generation or achieving its reuse.
Many voices coincide in pointing to the Next Generation EU funds as a unique opportunity to finance and execute the necessary investments to move towards the long-awaited Spanish industry 5.0.
If applied following the established deadlines, the benefits for the Spanish industry in the medium and long term would be more than remarkable.
In short, with the irruption of the IoT in the industry of our country, infinite possibilities open up that such a powerful sector should take advantage of.
Especially for those disruptive business models, its application will not only make it possible to improve production processes in each of its phases. Still, it will also enable improvements in speed or efficiency in supply chains.
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