Seven things you need to know about IIoT in manufacturing – and its powerful influence

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  • Global spending on IIoT platforms for manufacturing is predicted to grow from $1.67 billion in 2018 to $12.44bn in 2024, attaining a 40% compound annual growth rate (CAGR) in seven years
  • IIoT platforms are beginning to replace MES and related applications, including production maintenance, quality, and inventory management, which are a mix of information technology (IT) and operations technology (OT) technologies
  • Connected IoT technologies are enabling a new era of smart, connected products that often expand on the long-proven platforms of everyday products. Capgemini estimates that the size of the connected products market will be $519B to $685B
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