IIoT Is Powering The Transition To Industry 4.0, And Enterprises Shouldn't Risk Being Left Behind
VentureBeat, January 26th, 2023
The fourth industrial revolution, better known as Industry 4.0, is happening now - and the Industrial Internet of Things (IIoT) and edge computing are at the epicenter of this transition.
The adoption of IIOT has steadily increased globally, in part accelerated by the pandemic; manufacturers realized the importance of digital transformation in the face of supply chain issues and workforce shortages.
Harnessing machine learning (ML), AI and big data, IIoT's potential to bolster global production, support remote operations and optimize manufacturing and analytics are well understood. In fact, The global IIoT market size was $263.52 billion in 2021 and is expected to realize a compound annual growth rate (CAGR) of 23.1% between 2022 and 2030.