The manufacturers around the world are facing challenges when it comes to the landscape of business as every device is becoming virtually interconnected, data increases and when the industries intersect with one another. The newer waves of digital companies establish themselves in the conventional markets for changing the expectations of the customer. By the looks of it, it is making the companies who have already been created, to step into new frontiers.
The leaders in the market have enhanced their performance in the manufacturing industry. These leading companies are getting hold of various types of data which originates from the varied Internet of Things devices. By merely applying intelligence to the torrent of data, these manufacturers curate solely personalized experiences for customer and services. In the long run, the advancement transforms the brand and opens up new opportunities for everyone.
When it comes to the Internet of Things, opportunities are abundant. According to Gartner, around 20.4 billion Internet of Things devices is going to be deployed in the year 2019. These devices hold the value of over $1.7 trillion.
The conventional approach for market leaders:
Creating a scaling IoT infrastructure:
To make this happen the market leaders bring forward an Internet of Things platform which grows concerning the services as well as products. The steep growth in network complexity will result in accelerated growth.
Investment in popular technologies:
The manufacturers who can predict what is going to come, are the ones who will more likely invest in popular technologies. And this is the reason as to why some of the manufacturers are utilizing mobile, IoT and cloud.
Integrating Artificial Intelligence with IoT:
Combining AI with IoT will be beneficial for manufacturers. AI will be able to identify and predict what is going on in a network or IoT devices and then it will suggest actions for improving the rate of production.
**This post was published on https://www.industryweek.com
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