The Internet of Things (IoT) market today stands at $157.05 billion with 200 million connected units in 2016. In the coming years, industrial applications are expected to drive overall IoT growth, with the global market expected to grow to $3 trillion by 2020.
The IoT revolution will eventually reflect in our everyday lives – from healthcare, manufacturing, and home automation to smart cities. The Industrial IoT revolution is expected to impact manufacturing, energy, agriculture, transportation and other industrial sectors.
To make the most of networked devices, companies will need to make upgrades to infrastructure and processes. The IoT is beginning to grow significantly, as consumers, businesses, and governments recognize the benefit of connecting inert devices to the internet.
Networked devices offer a plethora of information for manufacturers, and this information can lead to improvements in the maintenance of machines and many other aspects of an organization. IoT can increase operational efficiency, energy, optimization, customer satisfaction, performance, and asset availability.
Today, many businesses are examining their current data systems and looking for ways to complement them with emerging tools and technologies. Upgrades may daunting, but companies that don’t engage in IoT will find themselves left behind.
Posted on Monday, January 9, 2017