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Managing a Comprehensive Path to Industry 4.0

3 minute read

The Internet of Things (IoT) plays an important part in optimizing operational efficiencies in the industrial sector. Managing a successful path to new manufacturing adoptions can seem daunting, but with IIoT (Industrial IoT), companies can utilize machines, cloud computing, sensors, and devices to create an efficient, safer, and more profitable production. It is a system like this that can drive and deliver value across many use cases such as asset management, predictive maintenance, and remote monitoring.

The Market Landscape

The Fourth Industrial Revolution, often referred to as Industry 4.0, is currently being led by the digital transformation accompanied by IoT. According to an extensive study released by Data Bridge Market Research, the global IIoT market is projected to reach approximately $540.98 billion by 2029.

This growth is driven by strong technological advancements in the IIoT industry, marking a compound annual growth rate of 10.1 percent during this forecast period (2022 to 2029).

Likewise, sensors account for one of the most prominent technologies in this segment, followed by focused markets such as distributed control systems, industrial robotics, cameras, and GPS.

Dynamics in the Industry: Opportunities & Challenges

IIoT adoption has the potential to pose certain challenges. Some of the biggest concerns are the following:

  • The need for stronger security
  • IoT ecosystem is too complex to manage
  • Obstacles with global connectivity
  • Growing interest in private LTE/5G
  • Wanting to navigate the advantages of eSIM

However, among these roadblocks come opportunities. IoT has the potential to streamline operations through comprehensive visibility in many ways:

  • Mitigate downtime
  • Build predictive models
  • Remote field servicing
  • Inventory management
  • Enhance safety

To get a greater breakdown of the dynamics in the manufacturing industry, check out our IoT in Industrial infographic.

What Gets Measured Gets Managed

KORE is hosting a webinar series, “IoT in Verticals,” and our next roundtable discussion is just around the corner. Join us on October 27th at 10:00 a.m. ET/3:00 p.m. GMT to explore the results of Kaleido Intelligence’s recent survey, “Serving the Enterprise: The Cellular IoT Connectivity Opportunity”. KORE is tackling the top three industrial innovations, monitoring a customer roundtable, and exploring themes of complexity, roaming, private LTE 5G, and more. Registration for the webinar is now open!

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Topic(s): Industrial , Featured

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