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Lantronix SGX 5150 IoT Device Gateway Manual

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IOT SOLUTION BRIEF Using IoT Device Gateways to Unlock Business Value from Legacy Machines LANTRONIX THE INSIGHT According to Gartner, by 2020, more than 20.4 billion devices will be connected to a network in what is commonly called the Internet of Things (IoT). McKinsey Global Institute estimates that the global economic impact of the IoT will generate up to $11.1T annually by 2025. Connectivity is the first step in capitalizing on the powerful insights generated by connected devices in the IoT, which can be used to optimize operations, provide better user experiences, or create new services. The economic impact of the IoT is not only driven by the next generation of connected devices, but also from connecting millions, if not billions of legacy brownfield industrial equipment deployed over the past few decades in factories, refineries, and various other industrial settings. Obvious industrial IoT use cases focus on improving overall production yield while reducing costs and waste. But many OEMs are just starting to realize that almost any factor that could affect their bottom line, such as downtime or equipment degradation, can be mitigated by analyzing data generated from connected sensors and machines. These device networks provide insights that can alert organizations to problems with yield, inform workers to fix equipment that is about to fail or develop statistical models that can predict maintenance for machine longevity. Today, there are a large number of legacy devices that are not connected, managed, or secured. Some estimates put this number at 85% of all industrial devices. That leaves a lot of useful data locked away in a massive array of equipment, like motors, pumps, factory tools, HVAC units, vending machines, and much more. Thus, there is a definite need to address connectivity and interoperability of legacy systems to avoid the enormous cost of replacing all existing infrastructure with next-generation equipment that can securely connect to the Internet. Page 1 of 4 | Using IoT Device Gateways to Unlock Business Value from Legacy Machines lantronix.com

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Using IoT Device Gateways to Unlock
Business Value from Legacy Machines
LANTRONIX
THE INSIGHT
According to
Gartner
, by 2020, more than 20.4 billion devices will be connected to a network in
what is commonly called the Internet of Things (IoT).
McKinsey Global Institute
estimates that the
global economic impact of the IoT will generate up to $11.1T annually by 2025. Connectivity is the
first step in capitalizing on the powerful insights generated by connected devices in the IoT, which
can be used to optimize operations, provide better user experiences, or create new services.
The economic impact of the IoT is not only driven by the next generation of connected devices,
but also from connecting millions, if not billions of legacy brownfield industrial equipment de
-
ployed over the past few decades in factories, refineries, and various other industrial settings.
Obvious industrial IoT use cases focus on improving overall production yield while reducing costs
and waste. But many OEMs are just starting to realize that almost any factor that could affect
their bottom line, such as
downtime or equipment degradation, can be mitigated by analyzing data
generated from connected sensors and machines. These device networks provide insights that
can alert organizations to problems with yield, inform workers to fix equipment that is about to fail
or develop statistical models that can predict maintenance for machine longevity.
Today, there are a large number of legacy devices that are not connected, managed, or secured.
Some estimates put this number at 85% of all industrial devices. That leaves a lot of useful data
locked away in a massive array of equipment, like motors, pumps, factory tools, HVAC units, vend
-
ing machines, and much more. Thus, there is a definite need to address connectivity and interop
-
erability of legacy systems to avoid the enormous cost of replacing all existing infrastructure with
next-generation equipment that can securely connect to the Internet.
IOT SOLUTION BRIEF
Page 1 of 4
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Using IoT Device Gateways to Unlock Business Value from Legacy Machines
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