Sophic Automation, Industrial IoT startup set to scale up Industry 4.0 projects in the region
The use of smart sensors in machines to improve industrial production processes is referred to as the Industrial Internet of Things (IIoT). IIoT solutions, also known as Industry 4.0 or the industrial internet, rely on a network of linked intelligent devices that can monitor, gather, exchange, and analyse data in real-time to generate value and alter business outcomes.
Companies may analyse and act on data provided by connected devices using industrial IoT platforms to automate and enhance how they develop, manufacture, and service goods. An industrial IoT platform allows us to use machine learning and artificial intelligence to improve goods and bring in better production techniques in real-time.
The major drivers of industrial IoT are operational efficiency and cost optimization, since it allows use cases like asset performance management, predictive maintenance, remote service, linked logistics, and smart factories. IIoT may be used in a variety of sectors to save time and money, but it’s also being used to develop new service and revenue models.
The IIoT’s core focus on intelligent manufacturing is well suited to heavy and high-tech industries such as semiconductors, mining, aviation, oil and gas, defence, and energy, but it also has a wide variety of applications in agriculture, logistics, and finance. IIoT holds significant promise in government for smart cities and environmental solutions, as well as healthcare and cross-industry applications like smart buildings.
According to research by Grand View Research, Inc., the worldwide industrial internet of things market is anticipated to expand at a rate of 22.8 percent to USD 1.11 trillion by 2028.
