Industry 4.0 and the Industrial Internet of Things (IIoT) are rapidly transforming the manufacturing industry, leveraging advanced technologies like machine learning and big data.
With a global market size of $263.52 billion and a projected CAGR of 23.1%, IIoT has the potential to improve production, support remote operations, and optimize analytics.
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However, there are challenges to overcome, including scalability and security risks. Edge computing is addressing these issues, enabling organizations to reap the benefits of IIoT and gain a competitive advantage in the manufacturing world.
„The IIoT space is a key battleground for enterprises and industries pursuing digital transformation. The next 12 months will be crucial for those seeking to optimize operations, enhance their supply chain and gain a competitive advantage. Businesses must seize the opportunity afforded by the latest edge advancements and renew the transition to Industry 4.0 or be left behind.“ – says Keith Basil in the article published by Venture Beat.
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