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Concept And Value Of IIoT In Tranforming Business

March 31, 2017
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The Industrial Internet of Things (IIoT) is fast becoming a reality. According to experts, the IIoT will gain prominence when people understand the vast potential to transform various business models as per the latest technological trends.

Addressing IoT Tech Expo in London, Kalman Tiboldi, Chief Business Innovation Officer, TVH Group disclosed that the trend if not a normal hype but it will generate enormous value in the long run. The industrial internet will set new benchmarks to change the economic and business models.

To transform business models, you need to establish clear objectives in the initial phase. atrick Bass, CEO, thyssenkrupp North America revealed that it's very hard to digest the entire concept. It is difficult to recognize the real status of the gadget. Some devices are normal but others look sexy. That said, the device should provide adequate value for the people to carry out the work in great style.

If you are not aware, IoT Tech Expo was recently held in London. The event management showcased companies who have worked hard to integrate the industrial internet to gain massive business value.

Konecranes 

With over 600 service centers in 50 countries, Konecranes has been involved in lift business serving the needs of process industries, shipyards, terminals, and ports. The company makes effective use of IoT to change the way they interact with customers, distributors, and others. It enables the company to modify the product design thereby providing efficient service.

ThyssenKrupp

ThyssenKrupp is an established industrial group dealing with elevators, components, material services and much more. The company has established a partnership with Microsoft to implement IoT in their journey towards an industrial internet. The company provides an ability to capture data, cloud transmission including providing all parameter specific data in a single dashboard.

TVH Group

TVH Group deals with distribution of spare parts for various industrial equipments. The company also provides a large array of equipment for rental purposes. The company has customers across 170 countries across the world. The team has developed an IT infrastructure software with flexible applications based on extended enterprise solutions.

The IoT Tech Expo will take place in Berlin on June 13 and 14, where you will be able to visualize the real world examples of how IoT is rapidy changing the context of businesses.