IIoT has immense scope and potential in commerce and industry. It can be seamlessly integrated in existing processes to increase efficiency and output by multifold and can also be used to create and design newer and better processes. IoE also has the ability to reduce bottlenecks and reduce errors in output. Industry 4.0, combines IIoT and smart manufacturing. It fuses physical operations with digital technology, big data, and machine learning to set new benchmarks in manufacturing and supply chain management.
Harnessing Big Data, organizations can remotely monitor all strategic and tactical assets, and through Industry 4.0 and IoT, enable value addition. Production processes can be optimized, and downtime can be reduced. IoT enables automation with machines making critical decisions based on real-time data.