Industrial IoT Solutions & Applications for 2024

The Industrial Internet of Things (IIoT) isn’t just another tech buzzword—it’s the quiet revolution transforming how industries operate from the inside out. Imagine factories where machines talk to each other, trucks that deliver goods without drivers, and systems that predict when equipment will break before it even hints at failure. This isn’t some distant sci-fi future; it’s happening right now.

With the number of IIoT devices worldwide expected to reach 41 billion by 2027, Industrial IoT integration is rapidly spreading across sectors like manufacturing, oil and gas, and construction. These industries are tapping into the digital wave to drive efficiency and slash operational costs.

And it’s not just about saving money—it’s about doing more with less, staying competitive, and, ultimately, staying in the game.

IIoT Solutions: Transforming Industry

IIoT Services, Platforms, and Applications 

The Industrial Internet of Things is more than just connected devices; it’s a comprehensive suite of IIoT services, including IIoT platforms and IIoT software that allow industries to automate, monitor, and optimize processes. With greater visibility into operations, businesses can make data-driven decisions that enhance efficiency and uncover bottlenecks. Whether it's through advanced Industrial IoT hardware or IIoT applications for predictive maintenance, the backbone of this revolution is how all these systems work together.

Autonomous industrial vehicles—think forklifts that drive themselves or drones monitoring factory floors—are just one example of how IIoT technology is transforming industries. These vehicles, armed with advanced sensors and AI, are making operations faster, safer, and more reliable. And with 127 new IoT devices connecting to the internet every second, the pace of innovation in this space is staggering.

Cyngn, for example, has launched a number of autonomous mobile robots, streamlining operations and shifting workers off to more value-driven tasks — one self-driving vehicle at a time.

The Role of Industry 4.0 and the Fourth Industrial Revolution

IIoT is a key component of Industry 4.0, the latest wave of the Fourth Industrial Revolution that emphasizes automation, digitization, and data-driven decision-making. Industrial IoT systems are central to the implementation of Industry 4.0 strategies, driving a new era of innovation and ultimately making factories smarter and more efficient.

From predictive maintenance to IIoT in manufacturing, companies are leveraging Industrial IoT solutions and services to enhance operational efficiency and reduce downtime. In fact, cost savings are the primary revenue driver for 54% of enterprise IoT projects.

Top IIoT Applications in 2024

Factory Automation and IoT in Manufacturing

Factory automation remains one of the primary IIoT applications, where connected systems like smart sensors, cloud-based analytics, and automated control platforms ensure seamless operations and reduce manual intervention. IoT factory automation is becoming increasingly sophisticated, using IIoT platforms to manage everything from process manufacturing to discrete manufacturing. By automating tasks like assembly, packaging, and quality control, companies can operate more efficiently.

One real-world example is Cyngn’s forklift partner, BYD. BYD implemented IIoT-driven factory automation at its global production sites. Their facilities use connected systems to monitor machines in real time, track production metrics, and even optimize energy usage. As a result, BYD has reported over 90% automation of some of its key manufacturing processes. It is their vision to convert some of their factories to ones that are fully automated.

Smart factories—those that fully integrate IIoT—are the future of industrial automation. This is seen by the fact that the smart manufacturing market is predicted to grow from $223.6 billion to an impressive $985.5 billion by 2032. 

In these environments, Industrial IoT monitoring systems don’t just collect data—they provide actionable insights that drive real-time adjustments. From predicting equipment failures to optimizing machine performance, smart factories are continually learning and improving. This constant optimization not only reduces downtime but also enhances production efficiency, quality control, and overall equipment effectiveness (OEE).

Machine Monitoring and Overall Equipment Effectiveness (OEE)

In modern manufacturing plants, IIoT-enabled sensors can track real-time data like temperature, torque, and vibration from machinery. These systems help detect early signs of mechanical issues, such as unusual vibrations, which often indicate wear or misalignment. The data is then used to alert operators or automatically schedule maintenance before a failure occurs, reducing unplanned downtime.

In a car manufacturing plant, robotic arms equipped with IIoT sensors do this kind of monitoring in real time. When a robotic arm begins vibrating slightly—an early sign of wear—the system alerts operators and schedules maintenance before a breakdown occurs. By optimizing availability and performance, this monitoring keeps machinery at peak efficiency, minimizing unplanned downtime and maximizing overall equipment effectiveness (OEE).

Predictive Maintenance and Analytics

Predictive maintenance, powered by IIoT software, uses real-time data and advanced analytics to predict equipment failures, reducing the need for reactive maintenance. This approach leads to reduced downtime and extended equipment lifespan. 

In fact, predictive analytics is quickly becoming one of the most valuable tools in the IIoT technology suite, offering real-time insights to businesses that allow them to identify patterns and anomalies before they occur. According to a GE Digital study, predictive maintenance can reduce reactive maintenance by up to 40%. This is great for keeping machines reliable and operational, ensuring your facility stays on schedule.

Inventory Management and Asset Tracking

IIoT solutions enable real-time tracking and insights into inventory and asset locations, optimizing supply chain processes. Asset tracking not only improves inventory management by minimizing errors and preventing stockouts or excess inventory, but it also reduces the risk of theft or loss. Custom industrial IoT solutions are helping industries implement better inventory systems by connecting the dots between all their resources.

Ikea is a prime example of a company utilizing this technology, as they have deployed over 250 autonomous drones across 73 warehouses in nine countries, including the U.S., for stock-counting and inventory management. These AI-powered drones fly around warehouses 24/7, scanning inventory and identifying misplaced items. The furniture manufacturer further plans to expand this system across more distribution centers in Europe and North America to further enhance efficiency.

Autonomous Robots

Autonomous mobile robots (AMRs) and automated guided vehicles (AGVs) are used in warehouses and factories to transport materials efficiently. These robots can perform tasks like picking, packing, and transporting goods with high precision and minimal human intervention. Equipped with advanced IIoT sensors and AI, autonomous robots can adapt to dynamic environments and ensure real-time coordination with other systems.

At Cyngn, our autonomous mobile robots (AMRs) are designed to seamlessly integrate with your existing IIoT infrastructure, optimizing material transport and improving operational efficiency. With advanced sensors and real-time data analytics, our AMRs help businesses automate workflows while reducing costs and increasing productivity. In fact, studies have demonstrated that they can result in efficiency gains of up to four times.

Remote Monitoring and Management

Remote monitoring with IIoT allows businesses to monitor and manage operations in real time, regardless of their location. This capability allows for real-time tracking of equipment performance, ensuring timely interventions that minimize downtime. Remote management is a critical part of industrial IoT connectivity, especially for sectors like oil and gas, where assets are spread across vast geographic areas.

Capitalizing on this technology, California recently passed a law, requiring oil companies to remotely monitor their wells for leaks and other safety concerns. The oil and gas industry says the law would cost them about $40 million in upgrades, leading them to continue opposing the new regulation.

Energy Management

Energy management is considered one of the top applications of IIoT, enabling organizations to monitor and optimize their energy consumption in real-time. For instance, a manufacturing plant can utilize connected sensors to track energy usage across various machines and processes, identifying inefficiencies and potential savings. By analyzing this data, companies can implement strategies such as load shifting and demand response to reduce energy costs and carbon emissions. 

In fact, the American Council for an Energy-Efficient Economy estimates that organizations could save 12- 22% of their total energy consumption through IIoT optimization efforts. In addition to cost savings, effective energy management through IIoT also contributes to sustainability efforts.

Fleet Management

Fleet management is made easier with IIoT by providing real-time tracking of vehicles and assets. By leveraging these insights, companies can enhance operational efficiency, reduce downtime, and maximize productivity across their processes.

A notable example is Caterpillar, which utilizes its fleet management platform to monitor its fleet of equipment and vehicles. This system provides real-time data on location, usage, and performance metrics, allowing the company to optimize the deployment of its machinery and improve maintenance schedules. At one particular site, insights from the platform led to a drop in idle time from more than 50% to just over 20%, and the amount of material moving rose by an impressive 1,600 tons per day.

Worker Safety & Risk Mitigation

Workplace safety is increasingly a top priority with the manufacturing industry alone experiencing thousands of injuries each year. Fortunately, connected devices, IIoT sensors, and systems can monitor equipment performance and environmental conditions, proactively identifying and mitigating risks before they lead to incidents, whether that's machinery malfunctions or hazardous conditions. Plus, automated systems like AMRs and AGVs can take on dangerous tasks, reducing risk to workers. This focus on safety not only protects workers but also enhances overall operational efficiency.

The Role of IIoT in Key Industries

IIoT in Manufacturing

Manufacturers are the early adopters of IIoT, utilizing IIoT platforms to automate tasks, monitor equipment, and ensure the availability of critical resources. By leveraging real-time data, they can enhance productivity and minimize downtime through predictive maintenance strategies. This integration not only streamlines operations but also enables manufacturers to adapt quickly to changing market demands. In fact, according to a GE survey, 81% of manufacturers believe Industrial IoT will have a positive impact on their business.

IIoT in Oil and Gas

The oil and gas industry uses IoT solutions for pipeline monitoring, predictive maintenance, and remote operations, making it easier to manage assets in remote locations. IoT solutions for oil and gas industry applications are particularly focused on predictive maintenance and centralized connectivity. In fact, Birlasoft predicts that the Oil and Gas industry will spend about $43 billion on internet-enabled devices and monitoring equipment this year.

By utilizing sensors and connected devices, companies can monitor pipeline integrity, track asset locations, and detect potential leaks before they escalate into serious issues. This proactive approach helps reduce operational costs and downtime.

IIoT in Mining

McKinsey and Company estimate that up to 30% of manual mining tasks will be fully automated by 2030. In the mining industry, IIoT technology involves utilizing connected sensors and devices to collect and exchange data in real time. By implementing a network of interconnected systems, companies can consistently gather data on equipment performance and environmental conditions. This capability enables remote monitoring, predictive maintenance, and improved decision-making, ultimately optimizing mining processes by boosting efficiency and enhancing safety. 

IIoT in Construction

IIoT is transforming the construction industry by streamlining fleet management, enabling predictive maintenance, and enhancing safety. IIoT sensors monitor equipment in real time, preventing breakdowns and improving safety with wearables and environmental sensors. Platforms like Azure and AWS support these systems, creating smarter, more efficient job sites.

One standout use of IIoT is autonomous drones for real-time site monitoring and 3D mapping. Drones create detailed maps, track progress, and detect safety hazards remotely. For instance, Skanska uses drones and IIoT to build digital twins, allowing teams to make precise adjustments, reduce errors, and prevent equipment downtime.

The Future of IIoT: Digital Transformation and IT/OT Convergence

IIoT is often hailed as the backbone of digital transformation. By enabling industrial digitization and IT/OT convergence, businesses are able to break down traditional silos and make data-driven decisions that optimize operations. This integration fosters seamless communication between devices, systems, and people, resulting in enhanced efficiency and improved decision-making. Whether through edge computing or the use of IoT industrial automation, IIoT is setting the stage for the factories of tomorrow.

The future of Industrial IoT vendors will be determined by their ability to provide holistic solutions that cover Industrial IoT analytics, industrial cybersecurity, and seamless IIoT deployment. Nonetheless, the appetite for connected industrial solutions is growing. By 2032, the global IoT market is projected to generate more than $4 trillion.

The Role of Autonomous Vehicles in the IIoT Ecosystem

Autonomous vehicles add a unique dimension to the IIoT ecosystem, specifically in large-scale industries like logistics, mining, and manufacturing. These AI-powered vehicles are designed for complex operations such as transporting goods between facilities or navigating large industrial sites. They act as mobile data hubs within the IIoT framework, continuously collecting and transmitting real-time information on location, performance, and environmental conditions. This results in improved fleet management, optimized routing, and streamlined operations.

According to our studies, industrial autonomous vehicles can increase workflow efficiency by 33% and reduce human labor costs by 64%. Learn more and read the full case study here. 

Elevate IIoT at Your Business with Cyngn

As we have explored, the Industrial Internet of Things is changing the game across industries. From IIoT architecture to remote monitoring, and from predictive analytics to smart factories, the landscape of industrial operations will never be the same. As more companies tap into the power of top IoT platforms and Industrial IoT providers, the future is one where innovation, efficiency, and safety reign supreme.

At Cyngn, we’ve mastered the blend of autonomy and Industrial IoT solutions. Our autonomous mobile robots, including our DriveMod Forklift, DriveMod Tugger, and DriveMod Stockchaser, are designed to help you drive operational efficiency and streamline your material handling processes. 

With our AI-powered DriveMod technology, your worker vehicles can:

1. Autonomously haul and tow thousands of pounds of heavy goods — indoors or out.
2. Leverage multiple, redundant, and intelligent layers of safety.
3. Can be remotely managed and monitored via the FMS or on-vehicle display.
4. Execute missions based on a variety of flexible, programmable options.
5. Collect real-time data to reveal opportunities for optimization.
6. Can be switched into manual mode and driven by a human.

Learn more about automating your material handling and tapping into the Industrial Internet of Things here. 

Frequently Asked Questions