IoT spend and evolutions in manufacturing 2017-2020
Manufacturing is controlled to keep that first position across the globe until at least 2020, even if, as usual, in some geographies, this leading position is more open.
In the APeJ (Asia Pacific, excluding Japan) region, close to one third of all IoT spending (hardware, software, services and connectivity combined) will be for the manufacturing industry in 2020.
Also in other regions, manufacturing ranks first but with slower market shares of total IoT spending. In the US, for instance, IoT spend by the manufacturing industry will account for approximately 15 percent of total IoT purchases.
The manufacturing industry is leading in the Internet of Things for various reasons: some are historical, others are related with the so-called next industrial revolution (Industry 4.0) and then there are the many uses cases and actual IoT deployments that offer rapid return and enable manufacturers to get digital transformations from several perspectives: efficiency, automation, customer-centricity, competitive benefits and the advantages which are presented by using data across the manufacturing value chain and to tap into new revenue sources, a key feature of digital transformation in manufacturing.
