According to the Markets and Markets report, the global industrial Internet of things market will increase from $64 billion in 2018 to $91 billion 400 million in 2023, with a composite annual growth rate of 7.39%.
What is Internet of Thing? The Internet of things(IOT) is an important part of the new generation of information technology, and is also an important development stage in the “information” era. As the name suggests, the Internet of things is using many things to connect,thereby creating a huge network. This has two layers of meaning: first, the core and foundation of the Internet of things is still the internet, the extension and expansion of the internet based on the Internet; secondly, its users extend and extend to any items and items, exchange and communicate information, that is, objects and objects. The Internet of things is the application expansion of the Internet. In other words, the Internet of things is business and application. Therefore, application innovation is the core of the development of the Internet of things.
The growth of the industrial IOT market is affected by many factors, such as the increasing automation of small and medium-sized companies. In addition, automation reduces production costs, thereby reducing expenses and improving the ROI of the whole process.
The industrial IOT market in the Asia Pacific region will grow at the highest compound annual growth rate. The Asia Pacific region is an important manufacturing center and is becoming an important hub in the vertical field of metals and mining. Infrastructure and industrial development in emerging economies such as China and India are driving the development of the industrial IOT market in the region.
Post time: Jul-03-2018
