The combination of certain key technologies are anticipated to substantially advance the Industry 4.0 revolution towards increasingly smarter manufacturing. Those technologies are Industrial IoT (IIoT), Data Analytics, and Artificial Intelligence. In terms of core functionality for Connected Manufacturing, IIoT provides the basis for communications, control, and automated data capture.
Data Analytics provides the means to process vast amounts of machine-generated and often unstructured data. Accordingly, Big Data technologies and predictive analytics enable stream lining of industrial processes. AI technology provides the means to further automate decision making and to engage machine learning for ongoing efficiency and effectiveness improvements.
This research evaluates the technologies, companies, and solutions involved in next generation manufacturing. The report assesses the impact of IIoT, Data Analytics, and AI on manufacturing efficiency and effectiveness. The report also analyzes how these technologies will lead to optimizing manufacturing for product and service improvements, new revenue streams, and new market opportunities for product life cycle management and customer relationship management. The report includes forecasts for each technology area as well as the global and regional outlook for manufacturing from 2017 to 2022. Select Report Findings:
North America will be the second largest market at $15.9 billion by 2022
Connected manufacturing Consulting services will be a $4 billion business by 2022
Europe will be the top revenue region with $19.6 billion by 2022 with Germany leading the region
Manufacturing data analytics platforms represent the fastest growth product segment by 2022 with a CAGR of 55.4%