InsideAI News’s Events Calendar

Event Information:

  • Tue
    21
    Jun
    2016
    Wed
    22
    Jun
    2016

    Industrial IoT, Big Data & M2M Summit

    8:00 amToronto, Canada

    industrial01

    In an increasingly globalized world the Canadian industrial sector is losing ground to cheaper, more technology driven regions. (However we can enhance our competitiveness) But we can become competitive by developing and adopting newer technologies and tools, thus innovating our way to the front.

    • The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014
    • The firm predicts that the number of “IoT endpoints,” connected devices will grow from 10.3 billion in 2014 to more than 29.5 billion in 2020.
    • Industrial Internet of Things spans industries representing 62% of G20 nations GDP. Industries including Manufacturing, Mining, O&G, Agriculture, Utilities etc.
    • Predictive maintenance of assets can be reduced by up to 12%
    • Production efficiency can be increased by 30%

    If a mining operation, where the ability to quickly conduct an assay of the ore when a drill bit unexpectedly hits hard rock enables miners to resume work in a fraction of the time required before. That if the global oil industry improves pump performance by even 1 percent, it would increase oil production by half a million barrels a day and earn the industry an additional $19 billion a year. If incumbents do not identify and exploit these opportunities, new entrants and start-ups will begin to influence and capture their customers.