We’ve collected the latest Industrial IoT statistics, surveys, and research papers, giving you one spot to learn more about the growing field of Industrial IoT. To make things easier, you can explore the following topics to learn more about:

• Industrial IoT Adoption
• Industrial Robotics & Automation
• Big Data & Industrial Analytics
• Machine Learning and A.I.

The Industrial IoT (IIoT) field is expanding every single day. Make sure you’re up to date with the latest statistics and trends to ensure your operation is ready for the digital revolution.

Industrial IoT Statistics and Trends in Adoption

As we look towards the future, the world of technology is poised for unprecedented growth and transformation, particularly in the realm of the Internet of Things (IoT).

• By 2024, the number of connected devices related to IoT worldwide is projected to reach approximately 17.08 billion.
• Growth of 5G networks is one of the most anticipated IoT trends in 2024.
• The Global IoT Market is anticipated to rise at a considerable rate between 2024 and 2030.
• Offering faster download and upload speeds, lower latency, and unparalleled connectivity, 5G networks will significantly impact IoT.

What Does This Mean for Manufacturers?

As a manufacturer, the anticipated IoT surge and 5G growth in 2024 presents a significant opportunity. By strategically adapting these advancements, you can enhance operational efficiency, and open new markets. However, be mindful of potential challenges such as cybersecurity threats and data privacy regulations. Balancing technological adoption with robust security measures will be key to outperforming the competition in this increasingly connected world.

Industrial IoT Statistics and Trends in Robotics and Automation

As we delve into the realm of Industrial Robotics and Automation, we are set to witness significant advancements and trends that will redefine our interaction with technology. 

• The adoption of edge computing in industrial IoT platforms is set to surge, enabling real-time data processing and quicker decision-making in robotic automation.
• Predictions for 2024 suggest substantial growth in customizable white-label IoT platforms  for industries seeking automated processes.
• The advent of AI-driven predictive maintenance is expected to revolutionize industrial robotics, reducing downtime and improving efficiency.
• Collaborative robots, or cobots, are gaining momentum in the market, projected to account for 34% of all industrial robot sales by 2025.
• The introduction of 5G is anticipated to significantly enhance the performance of industrial robots, enabling faster data transfer rates and real-time remote control.

What Does This Mean for Manufacturers?

Think about it: technologies like edge computing, which enables data processing closer to where it’s needed; white-label IoT platforms offering customizable IoT solutions; AI-driven maintenance for predictive upkeep; collaborative robots (cobots) working alongside humans; and the fast connectivity of 5G are all coming into play. What does this mean? Essentially, we’re looking at  real-time data processing, tailored solutions, reduced downtimes, and rapid data transfers. To stay in the game in 2024, strategically integrating these technologies into your operations is crucial, without forgetting the importance of robust security measures. This blend of innovation and risk management is your ticket to success in this rapidly evolving market.

Industrial IoT Statistics and Trends in Big Data and Industrial Analytics

There are several exciting trends for Big Data and Industrial Analytics for 2024, ready to redefine the way industries operate and make decisions.

• The global big data and business analytics market is expected to reach $512.04 billion by 2026, reflecting the growing reliance on data-driven decision making.
• IoT sensors are predicted to become more prevalent, with real-time data collection from these sensors playing a crucial role in industrial operations.
• Predictive maintenance, powered by industrial analytics, is forecasted to save businesses $630 billion by 2025.
• Industries are increasingly adopting machine learning and AI for data analysis; it’s predicted that AI could add $13 trillion to the global economy by 2030.
• The use of digital twins in industry, a virtual model of a process or product powered by real-time data, is expected to grow to a $35.8 billion market by 2025.

What Does This Mean for Manufacturers?

As a manufacturer, you’re poised to benefit from a data-driven future. The growing big data market, coupled with increased IoT sensors, and advancements in predictive maintenance, are paving the way for heightened  operational efficiency and cost savings. With the rise of AI and digital twins – victual models of physical entities –  expect to see significant economic growth and innovative approaches to product management . These emerging trends are more than just tools; they’re heralds of a transformative era. In this new phase, data and analytics won’t just support your strategic decisions; they will revolutionize your business model and enhance customer experiences.

Industrial IoT Statistics and Trends in Machine Learning and Artificial Intelligence (A.I)

The integration of Machine Learning and Artificial Intelligence within the Industrial Internet of Things (IoT) is set to dramatically reshape various industry landscapes. Here are some key trends and projections for 2024:

• By 2024, the AI in IoT market is expected to grow at a CAGR of 26% to reach $16.2 billion, reflecting the increased integration of AI and machine learning in Industrial IoT.
• The use of AI algorithms in IoT platforms is forecasted to surge, leading to better decision-making, predictive maintenance, and personalized experiences.
• Gartner estimated that by 2024, 75% of enterprises will shift from piloting to operationalizing AI, driving a 5X increase in streaming data and analytics infrastructures.
• The global market for AIoT (Artificial Intelligence of Things) is anticipated to reach $65.9 billion by 2024, driven by the growing need for efficiency and preventive maintenance in industries.
• The integration of AI in IoT systems is projected to enhance manufacturing processes, with industries expected to spend $15.7 trillion to the global economy by 2030.

What Does This Mean for Manufacturers?

Blending Machine Learning and Artificial Intelligence with the Industrial Internet of Things (IoT) is set to bring exciting change. The booming growth in the AIoT market – the integration of AI technologies with IoT infrastructure – signifies a widespread adoption of these technologies in industrial settings. The surge in the use of AI and machine learning algorithms will notably enhance decision-making, predictive maintenance, and customer experiences. With a trend towards most enterprises transitioning from pilot projects to fully operationalizing AI by 2024, we can expect a significant boost in data streaming and analytics. This rising AIoT market, driven by the demand for increased efficiency and preventive maintenance, represents a  substantial opportunity for innovation and growth. 

Industrial IoT Statistics and Trends in Cybersecurity

With the increasing integration of Internet of Things (IoT) devices in various sectors, cybersecurity measures are becoming a critical aspect for maintaining data integrity and system functionality. Here are some key trends and projections for 2024:

• The global IoT Security market size, which was valued at $16,792.34 million in 2022, is expected to expand at a CAGR of 20.63% during the forecast period.
• Cybercrime is predicted to cost the world $9.5 trillion annually by 2024, indicating the growing importance of cybersecurity measures in the IoT industry.
• AI-driven threat detection is one of the top cybersecurity trends predicted for 2024, reflecting the integration of AI in securing IoT devices.
• Gartner predicts that by 2026, cybersecurity will be a strategic priority that can no longer be siloed in the IT department, emphasizing the importance of security measures in the IoT industry.

What Does This Mean for Manufacturers?

In an increasingly connected world, cybersecurity is becoming an indispensable aspect  of business operations. The rapid expansion of the IoT security market underlines the growing importance of protecting your systems and data integrity. With cybercrime costs predicted to soar, investing in cybersecurity measures has become more crucial than ever. The rise of AI-driven threat detection showcases the role of advanced technology in enhancing the security of IoT devices. Moreover, with predictions highlighting cybersecurity as a strategic priority beyond just IT departments by 2026, it’s clear that robust security measures are integral to the future of the IoT industry.

How Shoplogix is Your Ideal Manufacturing SaaS Provider for 2024

Shoplogix offers you a comprehensive suite of solutions designed to optimize and enhance your manufacturing floor. With their smart factory suite, analytics suite, and MES suite, they provide tools that can help you drive change and deliver real impact in your manufacturing process. Their services have led to significant improvements for various manufacturers, with figures showing increased run speeds, sales revenue, and labor savings. 

The platform allows for swift deployments and universal connectivity, enabling you to collect and analyze key efficiency metrics across your organization. Shoplogix is future-oriented, offering insights into the latest Industry 4.0 and smart manufacturing trends, helping you stay competitive in an ever-evolving industry. With their commitment to data-driven decision making and operational excellence, 

Shoplogix will be your ideal SaaS provider for your manufacturing needs in 2024 and beyond.