IoT Device Management Software is the Key to Enterprise Success

Factories, warehouses, and other industrial assets are becoming smarter. With Internet of Things (IoT) technology, they can now tell us which machines or equipment are running and which are not. By 2026, the global IoT market in manufacturing will have grown to $87.9 billion, with 29.42 billion IoT devices worldwide.

The potential remains enormous. But what does this mean for an average enterprise? Consider Mahindra & Mahindra's Project Samarth in India – a combination of IoT sensors and AI that optimized water use for farmers, raising crop yields by 25%. Rolls-Royce uses IoT sensors on aircraft engines to monitor them, predicting problems and reducing maintenance costs by 30%.

However, merely having the IoT devices isn't enough — you need a system to manage them successfully. That is where IoT device management software comes into play. It helps you:

monitor thousands of devices at once;
identify issues before they grow;
make decisions based on instant data.

In this article, we'll explore how enterprises use IoT devices and the critical role of IoT device management software. Most importantly, we'll break down the tangible business benefits.

The Role Of IoT Device Management Software

With the increase in IoT devices, their management is also becoming complex. Software for managing IoT devices provides tools that can monitor, configure, and secure thousands of connected devices from different places.

Different sectors are influenced by IoT device management software:

Manufacturers can connect machines, facilities, and systems to a cloud-based IoT Platform or on-premise servers, which enable companies to view and analyze equipment details.
Retailers use IoT to improve customer service and simplify operations. Smart shelves, inventory tracking, and in-store analytics have transformed customer shopping.
IoT has significantly impacted agriculture. Farmers use sensors, drones, and analytics to optimize resources, control crop health, and increase productivity. By 2031, this sector will be worth $84.5 billion.
Logistics and supply chain management are other fields where IoT is being adopted, thus creating many changes. For instance, real-time shipment tracking, predictive maintenance, and optimized route planning, among many others, all contribute to enhancing visibility, efficiency, and cost reduction through the application of an Internet-of-Things strategy.

One of the core features of IoT device management software is its ability to offer real-time monitoring and analytics. This functionality allows businesses to track the performance of each device continuously, identifying issues before they escalate into costly downtime.

IoT device management software also supports remote management, enabling administrators to update firmware, configure settings, and troubleshoot problems from anywhere. This flexibility is crucial for global enterprises, allowing seamless management of devices spread across different regions from a single IoT platform.

Benefits Of Using IoT Device Management Software

IoT offers many clear benefits to manufacturing. It allows factories to run complex processes with less human input. IoT enhances every aspect of production by integrating robots, AI, and smart devices. Here are some key benefits.

Reducing Excess Inventory by up to 90%

Excess inventory drains resources. IoT solutions provide real-time visibility into inventory levels and demand patterns. By leveraging data from IoT sensors, manufacturers can accurately forecast demand, streamline operations, and minimize excess inventory by up to 90%.

Streamlining Changeovers by up to 70%

Changeovers — switching a manufacturing line from one product to another — can be time-consuming and costly. IoT enables manufacturers to monitor and control the changeover process, reducing times by up to 70%.

Minimizing Unexpected Downtime by up to 50%

Unplanned downtime threatens profitability. It costs manufacturers about 800 hours of downtime per year, translating into unplanned costs of $50 billion. Through IoT-based predictive maintenance, performance baselines are established, potential problems are alerted, maintenance is scheduled, parts availability is ensured, and production quotas are maintained, thus minimizing downtime by at least 50%.

Boosting Effective Time by Over 20%

IoT automates repetitive tasks and eliminates delays from manual intervention, increasing adequate manufacturing time by more than 20%. This enhances output, leading to maximized returns on investment.

Enhancing Worker Safety

Vital signs sensors and wearable technology that detect hazardous conditions and alert workers or supervisors help prevent workplace accidents. As such, this proactive approach reduces workplace injuries, making it a safer and more productive environment.

Strengthening Cybersecurity

Integrating cloud-based IoT platforms, such as ThingsBoard, with a network of IoT devices enables an automated monitoring process. These systems work as follows: IoT devices collect and transmit data while the platform processes and analyzes this information. Thanks to this, real-time security alerts can be received, preventing data breaches and ensuring the integrity of assets.

Optimizing the Entire Production Line

With an IoT solution, businesses have a holistic view of operations across multiple sites, which allows them to standardize output and optimize processes across locations to ensure peak efficiency with minimum effort.

Bottom Line

More and more companies are using IoT to work smarter and faster. Here's why it matters:

It helps businesses run smoothly. IoT identifies and notifies businesses about problems, allowing businesses to find the best ways to save time and money.
With IoT, companies get real-time data. This means they can make quick decisions based on what's happening now rather than last week or month.
The Internet of Things opens doors to new products and services. It's not just about fixing old problems — it's about creating new solutions.
As IoT technology gets better and cheaper, more businesses can use it, levelling the playing field for smaller companies.
It helps businesses understand what customers want. This leads to better products and happier customers.

Looking ahead, we can expect even more exciting uses for IoT. From smart cities to self-driving cars, the possibilities are endless.

For businesses wanting to stay ahead, now is the time to embrace IoT monitoring tools. Innovative IoT dashboards, such as thingsboard.io/monitoring-dashboard/, can help companies on their IoT journey.