IoT in Manufacturing to reach $200.3 Billion by 2030

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IoT in Manufacturing to reach $200.3 Billion by 2030

2022-05-26T11:49:13+01:00 May 26th, 2022|News, Recruitment|

It has been widely reported that the Worldwide IoT in the Manufacturing Industry is Expected to Reach $200.3 Billion by 2030.

The industry is currently estimated to be worth $62.1 billion globally, indicating rapid expansion and significant change.

But why is this transformation taking place, and what does it mean for those within the industry?

To be agile, informed, and in control, manufacturers are increasing their usage of IoT solutions such as connected equipment, real-time data analytics, and monitoring. It can revolutionise today’s production processes and systems by utilising data from machines and equipment.

There is no doubt that Industry 4.0 is taking shape with IoT sensors, big data, predictive analytics, and robotics all looking to shape the future of manufacturing operations in this era of cognitive manufacturing.

If manufacturers disregard or ignore the transformation that the IoT will undoubtedly bring, they risk falling behind competitors and losing clients who value speed and innovation.

But what does this mean for those working within a manufacturing role? Will technology replace humans? For now, it seems unlikely, in fact it appears that it will produce plenty of opportunities for both businesses and employees.

Whilst the technology may improve the manufacturing process to become faster, more accurate and potentially defect-free, it will still need a level of human input.

Therefore, those employees who previously performed these activities will be upskilled to deliver more challenging and sustainable jobs enabling the talent to stay within the organisation and the organisation to deliver a higher quality service.

If you are interested in working within the manufacturing sector or are currently recruiting for a manufacturing role please get in touch.

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