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SHAPING THE FUTURE OF
INDUSTRIAL IOT
According to a recent Zion Market Research
report, the global Industrial Internet of
Things (IIoT) market is expected to reach
$232 billion by 2023, with the Asia-Pacific (APAC)
region witnessing the maximum levels of growth.
The rising implementation of IIoT in the
manufacturing market has the potential to give
companies a way to enhance visibility in industrial
operations, creating accurate and knowledgeable
insight across every step of the production cycle
and process in real-time.
Companies are already benefiting from the
implementation of IIoT networks through
predictive maintenance and improved safety,
ultimately leading to an increase in connectivity,
scalability, cost savings and efficiency.
While both IIoT and Artificial Intelligence (AI) are
major players in shaping the technological and
industrial future, there is no denying that merging
both together would be an exceptionally powerful
combination. This hasn’t gone unnoticed in the
APAC region, where information companies like
Fujitsu are already starting to dedicate resources
to pursuing IIoT and AI symbiosis.
AI will start to bring together the production cycle
in a way that is not currently possible. AI and IIoT
collaborations can collect, quickly analyse and
accurately make sense of big data, putting that
information to use in solving real-world problems.
Ultimately, this combination will help design more
efficient IoT networks by ensuring adequate
capacity and avoiding overbuilding on the
system, developing an understanding of where
additional data does not necessarily lead to better
outcomes.
As both technologies are still in the relative
infancy of their development cycles, the reality is a
little more complex, as companies must consider
how legacy systems are handled. Known to have a
long-life span, the cost of upgrading or replacing
legacy assets to facilitate communication could
easily outweigh any foreseeable production
benefits.
However, an increasing number of companies are
opting to retrofit older equipment with sensors;
allowing them to stay in tune with business needs
at a lower investment. This can lead to risks of
obsolete equipment needing updating or more
routine maintenance, which can be supported by
collaborating with an industrial and obsolete parts
supplier like EU Automation.
With the continued advancement of Machine-to-
Machine learning and technology, the Smart Factory
is set to be an intelligent, integrated network of
wireless machines, analysing and collaborating to
enhance the production cycle. The majority of these
machines are currently working in the production
line, but the number of devices working in the
background connecting every process and machine
in the manufacturing chain is increasing rapidly.
In order to provide all the benefits of complete
industrial automation with a smart factory, an
effective and efficient Machine-to-Machine device
management platform will be key to ensuring
consistent connectivity to the complicated
ecosystem, ultimately driving real-time, efficiencydriven
automation.
This leap into a fully integrated smart factory will not
only lower costs throughout the production cycle, it
will also analyse and modify processes to optimise
efficiencies sourced from new information from
processes and other inputs to create a consistent,
economical workplace with little waste.
38 August 2019
/WWW.METALMAN.CO.NZ