The Industrial Internet of Things (IIoT) has perhaps impacted manufacturing more than any other industry. The IIoT market is set to grow from $68.8 billion in 2019 to $98.2 billion by 2024, yet, on the other hand, a recent report suggests that Industry 4.0 technology uptake is still low among manufacturers.
The transformation from linear plant setups into dynamic and interconnected systems is one of the greatest challenges of our times for machine shops. Some are unsure as to how Industry 4.0 fits into their established way of doing things. Many perceive the adding of Industry 4.0 to existing production setups as being expensive — when it needn’t be. And other manufacturers see no reason to upgrade their existing tooling set-up and processes.
Any given business will be at a different stage of their journey towards embracing digitalization with any specific view as to how this should be achieved.
But they need to make up their minds, as the COVID-19 continues to spell an unpredictable future for industry. Manufacturers must get on board now with these concepts to adapt existing processes, and to do so quickly and cost-effectively.
A TAILORED SOLUTION
Sandvik Coromant first launched its latest CoroPlus MachiningInsights platform, an expansion of the company’s CoroPlus suite of connectivity software, in 2018. The platform is designed to give manufacturers greater visibility of CNC machine tools and machining processes, and to provide the tools needed to analyse, identify, and eliminate common sources of downtime and inefficiency.
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