IoT has been instrumental in driving process improvement in industries such as manufacturing, logistics, and retail. Particularly, the manufacturing sector has seen significant cost-savings and efficiencies that have been passed on to consumers. Back-office processes are becoming more connected with IoT-powered solutions, which drives improvements across the organization and eliminates informational silos that can impede progress. Companies have made the manufacturing processes transparent to meet the growing demands for transparency and traceability. Manufacturers can now see the entire process through IoT devices that collect and analyze data.
Introducing IoT technology in manufacturing sector is a way to improve the production flow. IoT devices monitor development cycles and manage inventories and warehouses. This is why IoT investments have skyrocketed in recent decades. The IoT market in manufacturing, logistics and transportation will reach around $1495.65 billion by 2030. This generates huge data and enables data management through advanced IoT concepts. Connected devices are becoming more widespread in all segments of the manufacturing and supply chain, as well as throughout the value chain.
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