MachineMetrics Blog

How to Identify and Reduce Tool Wear to Improve Quality

In CNC machining, the reality is that metal meeting metal results in tool wear. Metal cutting, grinding, drilling, boring, and other tasks are all part of machining. And as these activities are all
MachineMetrics / Oct 14, 2021

How Digital Transformation is Disrupting Manufacturing

Over the last decade, digital transformation has accelerated among all industries. This revolution of new technologies has altered traditional manufacturing and the business landscape across the
MachineMetrics / Oct 07, 2021

Paperless Manufacturing: Top Benefits of Digitizing Your...

Manually managing and tracking production is beginning to become a habit of the past. Manufacturers are switching to a new approach of executing workflows, communicating, record-keeping, and
data collection / Sep 30, 2021

How to Identify and Solve Production Issues with Data...

Knowing how to solve production issues quickly and efficiently is a skill all manufacturing managers should possess. Though there are many strategies that exist to identify and fix problems, the
data collection / Sep 23, 2021
START DRIVING DECISIONS WITH MACHINE DATA.

Ready to empower your shop floor?

Learn More
Categories:
    Graham Immerman
    Graham Immerman Industry 4.0 / June 15, 2018

    IoT growth

    It's hard to really see how quickly IoT growth is changing our world, but Forbes put together some statistic that demonstrate the change. "By 2020, Discrete Manufacturing, Transportation & Logistics and Utilities industries are projected to spend $40B each on IoT platforms, systems, and services." The IoT market will likely reach $123 billion in the next three years. 

    Recommended Read10 Charts That Will Challenge Your Perspective Of IoT's GrowthSource: http://www.forbes.com

    By 2020, Discrete Manufacturing, Transportation & Logistics and Utilities industries are projected to spend $40B each on IoT platforms, systems, and services. McKinsey predicts the IoT market will be worth $581B for ICT-based spend alone by 2020, growing at a Compound Annual Growth Rate (CAGR) between 7 and 15%. Read More
    START DRIVING DECISIONS WITH MACHINE DATA.

    Ready to empower your shop floor?

    Learn More

    Comments

    Leave a comment

    Subscribe to our mailing list

    Related posts

    Read the latest

    How Digital Transformation is Disrupting Manufacturing
    How Digital Transformation is Disrupting...
    Over the last decade, digital transformation has accelerated among all industries. This revolution of new technologies has altered traditional manufacturing and the business landscape across the globe and is poised to accelerate even more. As recently as 2018, manufacturing companies transformed digitally accounted for $13.5 trillion of global GDP. But it is estimated that by 2023, this number will have risen to encompass $53.3...
    machinemetricssmart-manufacturingindustry-4-0digital-manufacturingdigital-transformation / June 15, 2018
    How Industry 4.0 Is Transforming Lean Manufacturing
    How Industry 4.0 Is Transforming Lean...
    What Is Industry 4.0? The concept of Industry 4.0 is reaching—it covers technologies like industrial Internet of Things (IIoT), the cloud, edge computing, and digital twins as well as other defining concepts such as machine-to-machine communication (M2M) and cyber-physical systems (CPS). The foundation of the Fourth Industrial Revolution is automation. All of the systems that collect and communicate data are there to serve the purpose...
    machinemetricslean-manufacturingindustry-4-0 / June 15, 2018
    Industrial DataOps: Unlocking Data and Analytics for Industry 4.0
    Industrial DataOps: Unlocking Data and Analytics...
    What's the Relevance and Importance of Industrial DataOps? From a manufacturing standpoint, data and operations in regard to data play a role in creating and maintaining a competitive, innovative, agile facility without carrying high risks or other burdens such as excessive inventory. Having data alone isn’t enough to stay ahead—it’s all in what you do with it. As an approach to data analytics, DataOps is all about reducing the time to...
    industrial-iotmachinemetricsindustry-4-0 / June 15, 2018
    Emerging Industry 4.0 Technologies With Real-World Examples
    Emerging Industry 4.0 Technologies With...
    What Is Industry 4.0 Technology? Industry 4.0, also known as the Fourth Industrial Revolution, is all about making business smarter and more automated. Where the Third Industrial Revolution focused on switching mechanical and analog processes to digital ones, the Fourth Industrial Revolution focuses on deepening the impact of our digital technologies by making our machines more self-sufficient, able to “talk” to one another, and to...
    machinemetricsindustry-4-0 / June 15, 2018
    How Industry 4.0 Technology is Solving the Skills Gap
    How Industry 4.0 Technology is Solving the Skills...
    Industry 4.0 and Its Role in Training Tomorrow’s Workforce Once again, the manufacturing industry is in a state of flux. The rise of several emerging technologies is bringing some excitement to an industry known for its repetitive processes while at the same time the backbone of this century’s industrialization drive is retiring. And yes, we mean the baby boomer generation. Statistics from the US Bureau of Labor Statistics show that...
    machinemetricsindustry-4-0 / June 15, 2018
    Get moving faster with these trends
    Get moving faster with these trends
    Now is not the time to fall behind.  Have you noticed that manufacturing seems to be getting exponentially faster?  It's important that you can keep up to compete! Here are a few ways you can get your production moving quicker.  1. Utilizing mobile technology Cell phones are certainly not just for personal use anymore.  Gone are the days when the only place for a phone at work was sitting on a desk! Mobile phone technology for...
    industry-4-0 / June 15, 2018
    A Long-Term Strategy for Manufacturers Adopting Industry 4.0
    A Long-Term Strategy for Manufacturers Adopting...
    It’s not uncommon for a factory to operate several generations of the same type of production equipment within a single factory. Except for extremely large companies with very deep pockets, most companies can’t afford to retool very often and must add their equipment in segments based on a long-term capital plan and in accordance with their growth strategy for their business. This method of investing and long-term planning isn’t seen...
    machinemetricsindustry-4-0 / June 15, 2018
    The Internet of Goods and manufacturing platforms
    The Internet of Goods and manufacturing platforms
    There have been a lot of new terms swirling around the last few years that sound similar like Industry 4.0, the Internet of Things, and more! But, have you heard of the Internet of Goods?  Let's break it down.  Definition Thomas defined the Internet of Goods as, "Another way to more descriptively reference Industry 4.0. It involves the digitalization of manufacturing as well as the data exchange and automation involved. The Internet of...
    industry-4-0 / June 15, 2018
    Why Industry 4.0 will drive manufacturing in 2020 and beyond
    Why Industry 4.0 will drive manufacturing in 2020...
    A study was done at the end of last year that looked into Industry 4.0 and productivity in manufacturing.  Deloitte and MAPI wanted to know how this technology will impact US manufacturing in the next ten years.  It will probably not be surprising to hear that the results showed Industry 4.0 will have a huge impact on the manufacturing moving forward!  Here are some of the findings from the study that you should know. Early adopters of...
    industry-4-0 / June 15, 2018
    Working smarter not harder through the industrial revolutions
    Working smarter not harder through the industrial...
    Can "laziness" be a good thing?  If it inspires efficiency and innovation... it could be!  A better phrase to describe this would be "work smarter, not harder." Each of the four industrial revolutions has followed this trend from the very beginning to now. Starting from the beginning The first industrial revolution was driven by inventions that reduced slow and strenuous manual tasks.  As Forbes said, "Industry 1.0 was marked by the...
    industry-4-0 / June 15, 2018
    See All Posts
    Popular
    8 Wastes of Lean Manufacturing | MachineMetrics
    MachineMetrics / Jan 25, 2016
    OEE, OOE, and TEEP - What's the difference?
    MachineMetrics / May 17, 2017
    Emerging Industry 4.0 Technologies With Real-World Examples
    MachineMetrics Industry 4.0 / Sep 17, 2020
    Takt Time vs Cycle Time vs Lead Time | Definitions and Calculations
    MachineMetrics manufacturing analytics / Sep 24, 2020
    5 Lean Techniques That Will Improve Your Manufacturing Processes
    MachineMetrics Lean Manufacturing / Sep 02, 2016
    Categories

    All Categories +