A recent analysis by Juniper Research finds that the worldwide number of business IoT connections will rise from 17.7 billion in 2020 to 36.8 billion in 2025, representing a mean rate of growth of 107 per cent.
The study described smart manufacturing because the main growth field within the Industrial IoT industry over the subsequent five years, accounting for 22 billion connections by 2025.
The recent report, Industrial IoT: Future Business Forecast, Technology Overview & Key Players 2020-2025, predicts that 5G and LPWA (Low Power Large Area) networks will play a pivotal role in providing attractive service offerings for the manufacturing sector and facilitating the adoption of the ‘smart factory’ model, within which real-time data transmission and high link densities demand high altitude.
5 G to maximise the advantages of Smart Factories
The study described private 5 G networks as key to optimising the standard of a sensible factory for service consumers by leveraging technology to enable higher degrees of operational autonomy. It found that non-public 5 G networks would be most useful when used for the transfer of vast volumes of knowledge in environments with a high link density and where significant levels of knowledge are produced. This, in turn, would allow large-scale manufacturers to cut back budget items by efficiency gains.
Tech Revenue to observe Industrial IoT market price
Research predicts that over 80 per cent of the full market share of business IoT would flow from to tech investment by 2025, hitting $216 billion. Software tools for deep learning for improved data analysis and network vulnerabilities are now important for linked manufacturing operations.