What is causing the growth in IoT in manufacturing?

IoT in manufacturing is on the up.

According to Yahoo Finance the global IoT in manufacturing market size is forecasted to grow from USD 50.0 billion in 2021 to USD 87.9 billion by 2026, at a compound annual growth rate (CAGR) of 11.9%. But what is contributing to this explosive upward trend? We’ll explore what is causing the growth in IoT in manufacturing during this 2-minute read.

Demand for customisation

According to Globe News Wire increasing need for customised products are expected to benefit the IoT in manufacturing market, as they enhance capabilities of manufacturers in discovering innovative ways to create customised products. Customers’ focus on tailor-made products led to an increase in demand for shorter manufacturing time. So, to serve this demand for products unique to the customer, manufacturers are augmenting and adapting their lines.

Tern plc (LON:TERN) backs exciting, high growth IoT innovators in Europe. They provide support and create a genuinely collaborative environment for talented, well-motivated teams. Wyld Networks is uniquely placed to deliver fixed and mobile mesh technology for Smart Cities, Events, Retail, Health and Industrial installations. 

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