IoT addresses many of the issues that hold back worksite productivity: equipment reliability, unpredictability of work, task and supply-chain complexity, and asset integrity Worksite industries depend on costly and complex equipment to get the job done—drilling for oil from an offshore platform, excavating at a construction site, or transporting ore out of a mine with giant trucks. Downtime, whether from repairs, breakdowns, or maintenance, can keep machinery out of use 40 percent of the time or more.
Largest potential impact could be from condition-based and predictive maintenance practices, which cut routine maintenance costs, reduce breakdowns, increase productive uptime, and extend the useful life of machinery.
In worksites, IoT technology also can help improve worker safety and health.
A similar amount of value might be unlocked from using wearables and employee location systems to increase productivity, including through job redesign, particularly in construction. Finally, IoT technology can benefit worksite equipment vendors (and their customers) through data-based design and can improve equipment performance through remote monitoring of equipment in use a worksites. Even though most worksites are in developing economies, more value could be generated by IoT in worksites in advanced economies because of higher potential adoption rates.
One of the biggest benefits of IoT technology is allowing worksite operators to track and optimize activities in real time that previously could be tracked only manually (counting the number of employees on a construction site on any given day.