The march toward widespread adoption of the Internet of Things, or IoT, is on. Awareness and interest are increasing across markets, with manufacturing and robotics at the center of many industrial IoT conversations.
This is not a new phenomenon. Rather, it began over a century ago with roots in connecting sensors, equipment, and machinery. For example, Nikola Tesla had the idea of ubiquitous connectivity with his “world wireless system” in the early 1900s. A century later, Tesla’s vision for a connected — albeit often virtual — world has come to fruition with the Internet and Web.
As businesses and consumers come to expect the benefits of everyday connectivity, opportunities abound. Everything from kitchen appliances to home security or energy monitoring systems is delivering information in real time (or close to it) through the Internet.
But the underlying technologies of IoT are transferrable to business and industry solutions as well. Beyond commercial security, authentication, or HVAC systems, industrial IoT is being applied to vehicles, industrial automation, and even planning and scheduling systems.
The market for IoT and big data will experience a compound annual growth rate of 13.6%, from $24.46 billion last year to $46.19 billion by 2021, predicts RnRMarketResearch.com, and the robotics market is also benefiting from new investment.
Industrial IoT challenges
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