Although there were instances and mentions of ‘things’ or a mesh of devices during the previous era of the industrial revolution, Industry 4.0 has heralded a science fiction-esque future that is building increasingly powerful enterprises, something we had just recently thought was many years away.
The power of Industrial IoT is coming to the fore, as the manufacturing sector becomes its biggest investor. As organizations balance the legacy of their existing infrastructure with new technologies like IoT whose force is combined with cutting-edge predictive analytics, deep learning and robotic process automation, there is a huge wave that is sweeping the manufacturing world.
IoT spend in manufacturing is expected to touch $189 billion in 2018, with focus largely on solutions that can overhaul manufacturing operations, production processes and asset management.