Nokia and FAW Group signed a strategic MoU to carry out joint research.
Nokia and FAW Group, Chinese state-owned automotive manufacturing company, signed a strategic MoU to carry out joint research. Under the MoU, Nokia will provide 5G trial network to FAW’s Changchun campus for joint research on 5G and other digital technologies to accelerate FAW’s use of IIoT and smart manufacturing. Security, big data, cloud and 5G slicing technology as well as the end-to-end system integration to be provide by Nokia will help FAW to implement smart manufacturing with automation solutions.
Wirepas raised a total €22 million to build IIoT and IoT connectivity on a massive scale
Wirepas, a spin-off start-up from Finland’s Tampere University, raised a total €22 million to build IIoT and IoT connectivity on a massive scale. Wirepas Mesh, its “hardware-independent radio communications protocol based on a decentralized network topology” is now being used to connect smart meters, lights and other assets for supply chains and logistics to deliver the data companies need. According to Wirepas, the company has existing customer base of over 100 companies with recent addition such as Prologis, Maersk and Fujitsu.
In terms of IIoT adoption, India is lagging far behind China
“In terms of IIoT adoption, India is lagging far behind China,” according to Saurabh Bhatnagar, Managing Director – Manufacturing, Accenture Strategy. “In terms of IIoT adoption, in a scale of 10, if China would score 7, India’s would be about 3.5.” The value addition per employee in India remains to be one of the one of the lowest in the world, at only $6,000, despite the strong growth of the industrial sector. “A connected factory can yield a 5-12.5% cost reduction in operations optimization, 10-40% cost savings in predictive maintenance and 20- 50% cost reduction in inventory optimization,” said Bhatnagar. In March 2019, India adopted the National Policy on Software Product. The current size of the IoT market in India is around US$1.3 billion, but is expected to grow to US$ 9billion by 2020.
IIoT is transforming the global oil and gas market
IIoT is transforming the global oil and gas market, said a recent report by the Research Insights. IoT solutions could eliminate unplanned well outages, boost crude output by 10% over a two-year period, and increase profits by nearly $+1 billion for large O&G companies. The report looks at the IIoT application in the industry between 2019 and 2025 and is available at
IIoT Applications in the Oil and Gas Market 2025 Huge Demand in Coming Year | ISCO Systems, IBM, Intel, C3IoT, Microsoft, ABB Ltd., and General Electric Company among others.