Industrial IoT (IIoT) Business Operations Impact
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The Internet of Things (IoT) has expanded in recent years, transforming our lives and the way we interact with our surroundings. It is connecting the universe and transforming physical objects around us into an ecosystem of information. While the consumer market continues to thrive with the emergence of wearable technology, and smart appliances and smart assistants in smart homes, Statista forecasts that one of the top spend on IoT solutions in 2020 will be in manufacturing (Figure 1). Dubbed the Industrial Internet of Things (IIoT), this focus of IoT in a manufacturing setting promises to radically transform the three fundamental pillars of the manufacturing process.