The industrial automation industry is entering Industry 4.0, the 4th Industrial Revolution. Industry experts are predicting a disruptive change that will demand a broad transformation of the way we operate our day to day business. Industry 4.0 is centered on the advances of modern automation, data collection, and manufacturing technologies. Industry 4.0 is closely related with the Industrial Internet of Things, the universe of intelligent industrial products, processes and services that communicate with each other and people over a global network. Market research expects $6 trillion to be spent on IIoT and Industry 4.0 solutions between 2016 and 2021, with many industry experts suggesting that this transformation is shorter than companies currently believe. Like other industries, the internet will accelerate disruption.
What does the market research predict?
Market research suggests that the IIoT and Industry 4.0 market will be worth $15 trillion GDP by 2030. Business investment alone in the next 5 years is predicted to rise from $215 billion to $832 billion, with most of this investment being in software and application development. By 2021, one million IIoT devices will be installed every single hour.
Where does Complete Automation Resource fit in?
Complete Automation Resource has the resources and experience to help you transition to Industry 4.0. Companies that move to tackle the necessary transformation today will position themselves as future leaders in their markets. Companies that fail to act now risk being left behind, if incumbents do not identify and exploit these opportunities, new market entrants will begin to influence and capture their market share.
Will your plant floor be intelligent by 2021?