4 Examples of IoT applications in Manufacturing

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The introduction of IoT technology is quickly changing the way organizations operate. More and more companies are turning to IoT with the goal of optimizing production processes and increasing automation.

IoT Stats to look out for:

  • The global IoT market will grow from $157B in 2016 to $457B by 2020, attaining a Compound Annual Growth Rate (CAGR) of 28.5%.
  • Discrete Manufacturing, Transportation and Logistics, and Utilities will lead all industries in IoT spending by 2020, averaging $40B each.
  • $6T will be spent on IoT solutions between 2015 and 2020 according to PwC.

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