N
Nagireddy
Guest
The Industrial Internet of Things (IIoT) is a new phase for global transformation powered by technology innovation to improve operational efficiency. This technology has aided in generating economic opportunities and reshaping several industries. This technology will transform companies and countries opening up a new era of economic growth and competitiveness. With this technology, the intersection of people, data and intelligent machines is expected to have a positive impact on productivity, efficiency and operations of industries. IIoT will enable companies to boost revenues by increasing production through creating new business models and will exploit intelligent technologies driving innovation.
According to a recent study by IndustryARC the global market for Industrial Internet of Things is estimated to reach $123.89 billion by 2021. The manufacturing industry will be the highest revenue generating segment for IIoT market in the forecast period. However, healthcare segment will have the highest growth rate through 2016 to 2021; this is estimated to grow at approximately 60% year on year.
The Manufacturing sector enabled by Industry 4.0 will lead the Industrial IoT market in the forecast period while Healthcare segment will witness the highest CAGR of 59.8%. This is followed by Energy sector complimented by Smart Grid penetration will observe the second highest CAGR of 39.7% in the forecast period.
Industrial internet of things refers to implementing internet of things concept into manufacturing. This involves use of big data technology and machine learning by harnessing the data from sensors and adopting machine to machine communication and automation technologies in the manufacturing plants. This data enables companies to identify problems that lead to inefficiencies; thus saving time and increasing the overall productivity. An IIoT enabled product incorporates different sorts of electronic components. The components include Transmitters, Memory, Processors, Networking Components, RFID, Power Supply and others. IIoT holds great potential for quality control and complete supply chain efficiency.
Information Source @ https://goo.gl/xev8Vf
According to a recent study by IndustryARC the global market for Industrial Internet of Things is estimated to reach $123.89 billion by 2021. The manufacturing industry will be the highest revenue generating segment for IIoT market in the forecast period. However, healthcare segment will have the highest growth rate through 2016 to 2021; this is estimated to grow at approximately 60% year on year.
The Manufacturing sector enabled by Industry 4.0 will lead the Industrial IoT market in the forecast period while Healthcare segment will witness the highest CAGR of 59.8%. This is followed by Energy sector complimented by Smart Grid penetration will observe the second highest CAGR of 39.7% in the forecast period.
Industrial internet of things refers to implementing internet of things concept into manufacturing. This involves use of big data technology and machine learning by harnessing the data from sensors and adopting machine to machine communication and automation technologies in the manufacturing plants. This data enables companies to identify problems that lead to inefficiencies; thus saving time and increasing the overall productivity. An IIoT enabled product incorporates different sorts of electronic components. The components include Transmitters, Memory, Processors, Networking Components, RFID, Power Supply and others. IIoT holds great potential for quality control and complete supply chain efficiency.
Information Source @ https://goo.gl/xev8Vf