Digitalisation and connectivity are transforming manufacturing at breakneck speed. Connected production lines permanently monitor their own condition and warn experts before breakdowns. Robots are collaborating ever closer with workers in manufacturing and logistics, boosting productivity.

Findings from research firm International Data Corporation (IDC) predicts that the global market for Internet of Things (IoT) technologies will rise by 15 per cent this year, and will be worth a trillion dollars by 2020.

The potential in the long term
is not only in hardware or device connectivity, but also in smart software – the essential enabler of IoT applications. The IDC research describes how software and services will play a major role in the success of IoT.

“By 2021, more than 55 per cent
of spending on IoT projects will be for software and services. This is directly in line with results from IDC’s 2017 Global IoT Decision Maker Survey where organisations indicate that software and services are the
key areas of focused investment
for their IoT projects,” said Carrie MacGillivray, vice president, IoT and Mobility at IDC.

Continue to the full Manufacturers' Monthly article   ||  May 09, 2018   |||