Why is it important?
By 2020 it is expected that 26 billion devices will be part of internet of things. – Gartner
The fundamental components that make internet of things a reality are:
- Hardware-Making physical objects responsive and giving them capability to retrieve data and respond to instructions
- Software-Enabling the data collection, storage, processing, manipulating and instructing
- Communication Infrastructure-Most important of all is the communication infrastructure which consists of protocols and technologies which enable two physical objects to exchange data
The Internet of Things, which is defined by connected devices, is a fundamental component of Industry 4.0. Not only does this help internal operations, but by utilizing the cloud environment where data is stored, equipment and operations can be optimized by leveraging the insights of others using the same equipment or allowing smaller enterprises access to technology that they would not be able to access on their own.
Companies that are implementing the technologies recognize the promise of Industry 4.0. These same businesses are also wrestling with how to upskill their current personnel to take on new work duties enabled by Internet 4.0, as well as how to attract new employees with the necessary skills.