Security News > 2022 > February > IoT in manufacturing market to reach $200.3 billion by 2030

The IoT in manufacturing market 2021 value stood at an estimated $62.1 billion, and it will increase to $200.3 billion by 2030, at a 13.9% CAGR between 2021 and 2030, according to P&S Intelligence.

To further enhance the IoT solutions in use, industrialists are deploying artificial intelligence to analyze the data generated by IoT sensors in real time and make sound decisions.

In turn, the key reason behind the rapid installation of IoT and connected sensors in the manufacturing sector is the swift automation of production processes.

IoT in manufacturing market trends Associated solutions have witnessed the higher demand over services till now as companies race to automate their manufacturing processes with IoT sensors and accompanying software.

Predictive maintenance is the most-significant application in the IoT in manufacturing market because it allows users to know of any impending system malfunction and correct the problem before machines break down.

Another key driver for the IoT in manufacturing market is the fact that such solutions improve the inventory management process.

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https://www.helpnetsecurity.com/2022/02/16/iot-in-manufacturing-market-2030/