Culture of invention leads to IoT success

The Internet of Things (IoT) is the enabler for new types of business model that will increase the bottom line for businesses and improve the range of services they can offer. Edge computing promises near real-time insights and facilitates localised actions that are tuned to the needs of customers. In doing so, businesses can ensure they remain competitive in a rapidly changing world.

According to Markets and Markets, the industrial IoT (IIoT) market alone is expected to grow from $64.0bn to $91.40bn by 2023, a compound annual growth rate of 7.39 percent. Estimates by Accenture indicate that the IIoT could add $14.2tr to the global economy by 2030.

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Date: 1.8.2018

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