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Source: https://www.evoortsolutions.com/blog/smart-manufacturing-soars-embracing-industrial-iot-for-profitable-business-models

Category: Business

Tags: industrial iot solutions, iot smart manufacturing, iot solutions for manufacturing, IoT Manufacturing, iot predictive maintenance, industrial iot services

In 2024, the projected deployment of Internet of Things (IoT) devices is expected to reach 41.76 billion, as reported by ReportLinker. According to estimations by Guidehouse Insights, the global IoT market in manufacturing is forecasted to reach $23.1 billion by 2031, with a compound annual growth rate (CAGR) of 15.0%. The advent of Industry 5.0 is underway, promising enhanced competitiveness among companies.

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