End-users have started to buy into the Digital Factory and Smart Manufacturing technologies. By and large, manufacturers want to implement technologies that will make their operations more efficient and productive at lower costs, but they want to augment, leverage, and transform existing operations rather than ripping out, replacing, and disrupting them. Technologies such as IIoT platforms and edge intelligence accomplish this. Add in simulation software and Artificial Intelligence (AI), and end-users can implement closed loop design and fine-tune processes to extend the useful lives of equipment.
This quarterly update provides a peek into current and future market opportunities and threats. The strategic guidance here empowers visionaries to take advantage of sensor-based applications, IIoT platforms, and other transformative technologies. The IIoT will connect 137 million devices by 2026, and 55% will connect wirelessly. Why should manufacturers adopt these technologies? Because done right, they have real business cases.