What Are Applications of IoT in Manufacturing?

The objective of the Internet of Things (IoT) is to connect things into cooperative networks. This comes after a change in design from segmented machines to monolithic ones. To put it another way, the IoT is about microprocessing and dividing big systems into numerous smaller ones. This makes monitoring the network, maintaining it, and updating it much simpler.

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IoT in Manufacturing Market Outlook and Opportunities, 2030

The global IoT in manufacturing market is estimated to generate $62.1 billion revenue in 2021, and it is expected to grow at a CAGR of 13.9% during 2021–2030. The growing adoption of AI is one of the key trends being observed.