BCC Research: Connected Devices Fueling Big Growth in Smart Manufacturing Markets
- Adoption has been slow, but smart devices market is growing at a steady pace
- As a result, smart manufacturing market could hit $392 billion by 2020
- Big early driver has been energy optimization applications
Smart manufacturing is an immature market that boasts significant revenue opportunity with global double-digit growth anticipated over the next five years. BCC Research reveals in its new report that the market segment for connected devices is the key driver of the global market.
Smart manufacturing refers to the network of machines containing embedded technology that allows them to communicate with each other. The development of smart manufacturing has been based primarily on the recent growth of the Internet of Things (IoT).