The internet has brought about the rise of the smart factory. And there is no doubt that it’s in growth mode, with industry research showing that the smart factory market is growing 10% every year as more and more organizations adopt the latest techniques. The technology that is driving the smart factory is the Industrial Internet of Things (IIoT), the name given to the network of machines often on a factory floor that can communicate with each other, enabling new and exciting levels of integration. This new data-driven industrial revolution is known as Industry 4.0.
2023 Predictions: Rapid Increase in Applications Using Real-Time Data to Drive Biggest Advancements across Electronics Ecosystem
Real-time data is in the driver’s seat and customers will see unprecedented value from vehicle safety to increased data privacy and security. Molex predicts that 2023 will usher in major advancements across automotive, consumer devices, data center and connected healthcare markets.