More and more companies are recognizing the benefits of industrial IoT and are committed to digital transformation using industrial IoT technology.
Using the Industrial Internet of Things can help organizations:
· Create a lot of economic opportunities
· Improve operational efficiency
· Simplify the general process
· Reduce capital and operating expenses
· Ensure uninterrupted performance of business critical processes
More specifically, the Industrial Network Alliance lists more than 10 industrial IoT use cases, including energy optimization, smart warehousing applications, connected logistics, industrial security systems, smart agriculture, asset management, staff health, and security monitoring. Wait. Obviously, the Industrial Internet of Things will ultimately have a huge impact on the world economy and its future development.
The technology will transform the job market, promote economic growth, reshape existing industries, create new opportunities, and most importantly, everything needed to provide companies with a significant competitive advantage.
A recent survey by Industry ARC predicts that the global industrial IoT market will reach $123.89 billion in just two years. By 2021, the manufacturing industry will create the highest income, and the healthcare industry will catch up quickly and show an annual growth rate of 60%. Another industry leader will be the energy sector, which is expected to grow at a CAGR of 39.7%.