A Reply study reveals the growth of the Internet of Things in the business world
Reply ‘s latest study explores two key areas that are driving the growth of the Internet of Things ( IoT ) in the industrial market: the smart factory and smart transportation and logistics. By connecting machinery and tools, Industrial IoT enables manufacturing companies to improve visibility into their production in real time.
The vast amount of data generated by Industrial IoT devices is the fuel to optimize production, improve delivery quality, introduce predictive maintenance, and automate the supply chain, among many other functions.
“Without industrial IoT , Industry 4.0 cannot exist. Data is essential for the ‘intelligent’ evolution of the industrial world and the industrial IoT is what allows an infrastructure to collect it, transmit it to the cloud and manage subsequent analysis, within a circle that is beneficial for the business”, comments Filippo Rizzante , CTO of Reply .
Market growth
The study, carried out thanks to the data collected with the use of the Trend Sonar platform itself and the help of Teknowlogy Group , also analyzes the main markets for smart factories and smart transport and logistics, grouped into two sections: “Europe-5” (Germany, Italy, France, Belgium and the Netherlands) and “Big-5” (United States). United States, China, India, Brazil and the United Kingdom).
Despite the difficult economic environment in 2020, both groups saw little growth in investment in both smart factories and smart transport and logistics, with notable growth forecast for 2025. Overall, the smart factory market in the group “ Big-5”, led by the United States, will exceed 86,000 million euros in 2025, with strong investments in platforms and predictive and remote monitoring solutions; while the intelligent transport and logistics market will exceed 15,000 million euros.
The push for 5G and edge computing
The adoption of low-cost sensors and 5G networks, driven by strong investment from telcos, will further boost the spread of industrial IoT . For example, improved communications between autonomous vehicles and robots, artificial intelligence and machinery, combined with higher computing power and very low latency, will not only improve plant efficiency, but also plant safety.
In addition, the possibility of creating high-density private networks will allow not only a greater implementation of the industrial IoT , but also the connection of a significant number of sensors, machines, vehicles and robots and the possibility of making greater use of augmented reality and virtual to support “connected workers”.