The Internet of Things (IoT) world may be new to some, but it has already made a big impact in the current industrial revolution — also known as Industry 4.0 — and will continue to rapidly grow in popularity in the years to come. Industry 4.0, the term coined for smart factories that machine-monitor physical processes while simultaneously communicating with humans and their technologies (such as IoT devices) in real time, ultimately enabling data streams to be collected. This collected data gives organizations and their executives advanced analytics to make better business decisions and improve efficiencies in operations to generate cost savings.
This is exactly why businesses that are not already doing so need to recognize and constantly look for ways to utilize this technology more each day. In fact, the number of connected devices is growing at an exponential rate; Gartner, Inc. predicts that there will be 20.8 billion connected things by 2020. And that doesn’t address the trillions of physical items that aren’t already connected to the Internet. But with this rapid progression, it can be hard to understand the full potential of technology and keep on top of the latest trends. So in order to help those who are actively seeking the best solutions, here is a look at the three biggest trends that are expected to play a central role in 2017, some use cases of solutions already in action and how they will have an effect on applications in the years to come.
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