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Industrial IoT:
a reality check
Reply explores two key areas that are pushing the growth of IoT within industry: smart factories and smart transport & logistics.
The growth of industrial IoT
Along with the ubiquitous role of cloud computing as the new standard for software and services, IoT is today’s other leading technology, completing cloud with new hardware flocking onto both consumer and industrial markets. Looking at the platforms that are pushing the growth of the IoT market, the use of IoT in manufacturing is the most relevant segment.
Investments in smart factories and transport & logistics will grow significantly in the next 5 years
Since the start of the Covid-19 pandemic, many industries have increased their investment in IoT technologies as they discovered how it could help them overcome challenges. During the Covid-19 pandemic peaks in 2020, investment in IoT technologies suffered less than other market segments. As we move into recovery, IoT looks set to play a crucial role, helping both businesses and governments achieve their aims, with a significant further growth in investment predicted by 2025.
China and the USA will be the two leaders for smart factory in the Big-5 cluster,
with the platforms area growing fastest and high investment in predictive solutions and remote monitoring. Within smart transport & logistics,
Brazil has lost most ground during the pandemic but is now recovering and the highest growth is expected in India.
