According to the survey on the Internet of Things (IoT), there has been a growing role and importance of IoT in industrial applications. The survey also provided that the IoT, due to its growing role, has become essential to Industry 4.0. The top three leading industrial segments in IoT applications are automation control, industrial control, artificial intelligence, and home automation, as per the IoT survey.
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The key factor for the IoT market is industrial automation and control. But due to the security concern and lack of business strategy, the adoption by the Industry 4.0 is low. For IoT, security concerns remain the most important challenge that could affect the growth of the market. As per the IoT survey, there are many challenges in IoT application like security concerns, connection and interoperability, lack of business strategy, and much more. All these challenges are hindering the adoption & integration of the smart device solution. Among all the primary concerns of IoT connectivity & interoperability are the major issues.
The important factor in IoT adaption with systems and devices is the perceived value of data that is collected by devices connected to IoT. The best part is that this data mainly offers organizations the ability to make effective improvements. The improvement mainly refers to the increase in profits or reduction in cost across the different businesses. The improvement leads to effective development related to improved quality, compliance and predictive maintenance, and increased efficiency in business. The main reasons for designing IoT connectivity are productivity and manufacturing enhancement. For the effective solution of IoT, the respondent adopts continuous AI. The best part of using the AI design is that more than forty-seven percent of respondents say they are willing to implement AI for their future projects.
Within IoT, the environment sensor is considered the most common sensor that is used for IoT devices. This environment sensor helps measure temperature, pressure, humidity, environment gas, and much more. In each of the three years, the Farnell survey is done that too on a consistent basis. As per the survey, the respondents in large numbers are using SBCs as the key of IoT device design. Due to the effective benefits of IoT devices, it appears that IoT will continue to be an important part of future designs. It is also proved in the IoT survey research that the respondents are confident in IoT that their companies will be taking a lead role in shaping IoT devices.
Due to the Covid-19 pandemic, the IoT industries have seen a huge growth like there were developments in new medical devices. These developments have the potential to drive the growth of the IoT industry in the future period. The best thing about medical device IoT is that it is effectively changing the way patients are diagnosed and treated. With the future expansion of IoT device development, many manufacturing companies will be using IoT for their process. Continues implementation of Industry 4.0 is expected to provide faster growth of the IoT device market.
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