Flexsim 612/7/2022 M2M Communication: Essential for Seamless Connectivity between Multiple IoT Devices Real-time Simulations: A Promising Technology Connecting Human, Machine, and Products in Smart Manufacturing Machine Monitoring: The Most Common Way to Implement IIoT in Machine Shops IoT Set to Revolutionize the Supply ChainĮssential IoT-based Digital Initiatives for Successful Transition of Manufacturers to Industry 4.0Įmphasis on Gaining Competitive Edge Steers IIoT Adoption Industrial IoT Enables Transition to Intelligent Factoriesĭiscrete Manufacturers Experiment with IoT Implementations Intelligent Factory Positively Impact Changes in Workforce Deployment Intelligent Factories Provide Manufacturers New Business Opportunities Intelligent, Digitized & Automated Smart Factories to Transform the Manufacturing Industryĭigital Factory Technologies for Improved Manufacturing Cell Design and Robotic Automation Pivotal Role of Smart Factory Solutions in the Evolution of the Digitized Intelligent Factories of the Future After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Reporting & Analysis Software segment is readjusted to a revised 8.7% CAGR for the next 7-year period. The scenario is expected to prompt various factories to implement automated solutions and robotics for safeguarding their employees from the infection risk.Ĭontrol Equipment & Software, one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach US$99.5 Billion by the end of the analysis period. The crisis is fueling the adoption of vision-guided robots for reducing the risk of infection to workers. The COVID-19 pandemic has created a pressing need for manufacturing factories to ensure worker safety while maintaining their operations. In addition, increasing demand for automated manufacturing platforms in industries like manufacturing, automotive, chemical and medical devices is expected to propel market prospects. Enterprises in the industrial sector are implementing industrial robots, the Internet of Things (IoT), and connected devices for increased visibility, real-time data analysis and predictive maintenance. Growth in the global market is set to be driven by increasing investments in automation systems and advances in manufacturing technologies to achieve mass production and push overall efficiency and productivity.
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