INTERNET OF THINGS HANDBOOK
IoT crossroads: Design, manufacturing, and supply chains will converge Here are several key ways manufacturers can control and improve new product development and introduction processes in the age of IoT. The numbers tell the story: global technology spending on the IoT is expected to reach $1.2 trillion in 2022, and IoT devices and services will reach an inflection point of 18% to 20% adoption in 2019. The combination of artificial intelligence (AI), machine learning, and real-time data streams delivered by IoT sensors and networks are going to make IoT business cases extremely compelling in 2019. Today, IoT capabilities are included in handheld devices, household appliances, and medical implants to monitor patients, to name just a few. The auto industry is all in: enabling greater connectivity in cars to seamlessly gather, monitor, and share data with smart city services and other vehicles. So it’s no surprise that electronics suppliers are racing to deliver more value to support consumer electronics and cars.
SCOTT REEDY SENIOR DIRECTOR OF MARKETING ARENA SOLUTIONS
Indeed, one might say the manufacturing world has become obsessed with the global network of connected devices and people. Rightfully so, as these performance insights can greatly improve the way we manufacture products. Consumer electronics manufacturers continue to introduce IoT capabilities because they provide critical knowledge that helps save money, improve product quality by tracking equipment performance, and ultimately satisfies consumers’ growing appetite to connect anytime and anywhere. But these improvements introduce complexity and risks to operations and the overall supply chain as distributed teams struggle to manage terabytes, or even petabytes, of data across multiple systems and platforms. There’s also a growing list of concerns surrounding consumer privacy as companies find new ways to tap into consumer behavior—with and without their knowledge. IoT, along with increasing regulations and globalization of teams and partners, is changing the landscape of new product development and introduction (NPDI). Product innovators are forced to contend with a deluge of data as they struggle to effectively coordinate dispersed teams to design, validate, and build new products on ever-tighter schedules and budgets. With greater complexity, we expect to see an increased risk of product quality issues and product launch failures. Manufacturers must seek better ways to manage their design processes, improve the customer experience, and reduce quality defects. As devices become more connected and complex, both quality and software issues are more prevalent. As a case in point, more than 20% of recalls in Q3 of 2018 were caused by software.
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Arena Solutions — Internet of Things HB 04-19.Vers4.indd 28
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eeworldonline.com | designworldonline.com
4/15/19 4:29 PM
