According to Netscribes research, the global smart factory or Industrial 4.0 market is expected to grow at a CAGR of 10.4% and will reach USD 74.80 billion by 2020. Over the past few decades, the manufacturing industry has gone through tremendous change. The traditional automation has been transformed to complete automation with the emergence of IoT which includes the convergence of Industrial Internet of Things (IIoT), artificial intelligence, robotics, cloud computing, augmented reality, and big data. The emergence of Industry4.0 or IIoT (Industrial IoT) will help manufacturers to meet the dynamic needs of the consumer market by integrating the supply chain, production line, and quality control.
Check out this infographic to know how the modern industrial revolution also known as Industrie 4.0/Indusrtial Internet of Things is affecting the manufacturing industry as a whole.