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Industrial IoT set for major growth

IoT
(Image credit: Image source: Shutterstock/everything possible)

The Industrial Internet of Things (IIoT), comprised of smart devices that allow for a highly autonomous manufacturing industry (opens in new tab), is set to grow 207 percent within half a decade, according to a new report from analyst firm Juniper Research.

Juniper claims that there will be more than 36.8 billion active IIoT devices by 2025, up from 17.7 billion today.

The report argues that advances in two key fields will propel the IIoT industry forward: 5G and LPWA (Low Power Wide Area).

Private 5G networks will prove highly valuable, the report claims, transmitting large amounts of data in environments with a high density of connections and where significant levels of data are generated. With 5G, large-scale manufacturers will also be able to cut down on operational spend.

According to Juniper, more than 80 percent of global IIoT market value (opens in new tab) will come from software spend, amounting to $216 billion. Businesses will spend deeply on machine learning-powered tools that can analyze data and identify network vulnerabilities, claims the firm.

“Manufacturers must exercise caution when implementing IoT technology; resisting the temptation to introduce connectivity to all aspects of operations”, said report author Scarlett Woodford.

“Instead, manufacturers must focus on the collection of data on the most valuable areas to drive efficiency gains.”

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.