The global industrial Internet of things (IoT) market is forecasted to reach $933.62 billion by 2025, according to a recent report from Grand View Research, Inc. The IoT provides many potential advantages to companies across the economy, including the metals sector. Here are six ways metals companies can benefit from the industrial IoT.
Metals companies can track product quality and the factors that affect it throughout their production processes, enabling them to deliver products with more consistent quality. For example, the punch and die process often scraps at rates of 15 to 20 percent, but internet-connected sensors can be used to identify any nonconformities that occur. IoT sensors can create pressure and maps that analyze the results of the punch-and-die process and then automatically adjust the punch angle, pressure and stroke as well as other factors to reduce variance between products. Smart sensors could allow manufacturers to continuously monitor conditions such as temperature that may affect the quality of their products.