Manufacturing is on the cusp of a revolution – the Internet of Things (IoT) revolution!
In 2019, IDC estimates the manufacturing segment invested close to $200 billion in IoT spending, twice as much as the consumer IoT segment, the second largest IoT vertical market.
And in Q1 2020, the smart manufacturing industry experienced notable growth, with a compounded annual growth rate of 12.4% forecasted through 2025, according to a communication of ISG dated 4 June 2020.
Why is that?
In fiercely competitive global markets, IoT-enabled smart manufacturing, also known as Industry 4.0 or industrial IoT, provides full visibility of assets, processes, resources, and products.
Smart manufacturing supports streamlined business operations, optimized productivity, and improved ROI.
For more than two decades, Thales has been a trusted partner, helping customers Connect, Secure, and Monetize their enterprise operations with IoT technology.
In this web dossier, we share some of the best practices we’ve gathered to help companies in making an educated leap to “Industry 4.0.”
The keys to success are:
- connecting equipment, integrating diverse industrial data,
- securing industrial systems for the entire lifespan of the machine,
- protecting and, potentially, licensing your company’s intellectual property.