Industrial IoT Mkt growth at 26.56% CAGR

increased usage of smart devices, intelligent systems, and robots will likely completely transform the skills and jobs required in the future…

Sourced through Scoop.it from: www.moneycontrol.com

The Global Industrial IoT Market Research report 2015-2019 segments the IIoT industry into four end-user segments including manufacturing, energy and utilities, automotive and transportation as well as healthcare while forecasting a 26.56% CAGR to 2019.
The growing adoption of industrial IoT (IIoT) in the market may lead to a shift in employment structures. A blended workforce is expected where both humans and machines work together to attain outcomes that neither humans nor machines could produce alone.  Technology will likely be designed and applied to empower people rather than replace them. The increased usage of smart devices, intelligent systems, and robots will likely completely transform the skills and jobs required in the future. Companies will use intelligent machines and network systems to automate tasks at lower costs and achieve high quality outcomes.    This automation will help people to focus more on human-related job elements such as creative problem-solving and collaboration. So, there will be higher productivity with a dynamic and more engaging human work experience through the combination of humans and machines.  According to this latest industrial IoT (IIoT) market research, a rising number of connected devices are now being used in industries to boost the quantum of generated data. Businesses have realized that they can use these data to optimize costs, deliver better services, and boost revenues. They are also seeing opportunities for changes in business models. For example, aviation engine manufacturers are offering inclusive rental programs on their equipment and servicing contracts. The expectation is that feedback from engine users would help manufacturers enhance engine design and reduce manufacturing and maintenance costs, which may confer significant competitive advantages.   Countries have realized that sensor data could be used to avoid catastrophic failures in key infrastructure networks like water, power, and transport. All these factors drive revenues in the market.

See on Scoop.itInternet of Things – Technology focus

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