IoT and IIoT: What's the Difference?
Connected devices have revolutionized interface communication, optimized supply chain operations, and adapted to changing consumer demands. With the advent of technology, industries are heavily investing in new and smart innovations like machine monitoring software. In this context, IoT and IIoT are buzzwords that are thrown around a lot, often interchangeably. What are they and how are they different?
Internet of Things (IoT)
According to the Business Insider, 24 billion IoT devices are expected by the year 2020. That's an estimated four devices per human being on earth.
IoT consists of a distributed network system that uses sensors or control channels to communicate over the internet or cloud. It is driven primarily by manufacturers and inventors catering to consumers. This results in products like temperature controls, wearable devices, and smart phones. Such devices offer connectivity which is more entertaining and beneficial, than absolutely necessary. In other words, the failure of any of these IoT products does not create an emergency.
Example: The Smart Home is currently trending among homeowners. From the Amazon Echo to the Nest Thermostat, these products are affordable, easily available, and give owners greater control over their environment.
Industrial Internet of Things (IIoT)
Accenture predicts that by 2030, IIoT could add $14.2 trillion to the global economy, making it one of the biggest contributors to fiscal growth and generativity over the next decade.
Similar to the IoT, the IIoT connects devices over the Internet or cloud. However, the IIoT's priority towards accuracy is what makes it the darling of machine to machine (M2M) engineers. Its focus on efficient information transfer and crucial data control, allows it to be a reliable asset in sectors like energy grids, military strategies, public safety, and city transportation.
Example: Last year, Dubai unveiled the world's first 3D printed office building. Named Museum of the Future, the building took 17 days to print at a cost of about $140,000. This amounted to 50% savings on regular labor costs.
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