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#News(General) [ via IoTForIndiaGroup ]
By 2020, Discrete Manufacturing, Transportation & Logistics and Utilities industries are projected to spend $40B each on IoT platforms, systems, and services.
McKinsey predicts the IoT market will be worth $581B for ICT-based spend alone by 2020, growing at a Compound Annual Growth Rate (CAGR) between 7 and 15%.
Industrial products lead all industries in IoT adoption at 45% with an additional 22% planning to adopt IoT in the next 12 months according to a recent Forrester survey.
The Industrial Internet of Things (IIoT) market is predicted to reach $123B in 2021, attaining a CAGR of 7.3% through 2020.
Harley Davidson reduced its build-to-order cycle by a factor of 36 and grew overall profitability by 3% to 4% by shifting production to a fully IoT-enabled plant according to Capgemini.
By 2020, Discrete Manufacturing, Transportation & Logistics and Utilities industries are projected to spend $40B each on IoT platforms, systems, and services.
Smart Cities (23%), Connected Industry (17%) and Connected Buildings (12%) are the top three IoT projects in progress.McKinsey predicts the IoT market will be worth $581B for ICT-based spend alone, growing at a Compound Annual Growth Rate (CAGR) between 7 and 15%
The Industrial Internet of Things (IIoT) market is predicted to reach $123B in 2021, attaining a CAGR of 7.3% through 2020. Accenture forecasts IIoT can add as much as $14.2T to the global economy by 2030. Source:
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