As consumers and businesses prepare to spend on next-gen or smart-gen factory solutions, the Industry 4.0 market will skyrocket. According to a recent Transparency Market Research report, the global Industry 4.0 market is estimated to register growth at a CAGR of 26.7% and eventually be valued at US $1 Trn by 2031. IoT, similarly, is growing via increases in smart devices, and IIoT figures to increase significantly with the greater rollout of 5G networks. Quicker speeds courtesy of 5G will enable industrial facilities to become even more interconnected and unified in the future. A race is on in the background in the manufacturing space to ensure companies develop digital-transformation strategies to enhance their connections in the right way. From a plant floor, specifically, new algorithms and artificial intelligence are needed to better enable businesses to run more efficiently, understand their consumers, and deliver production for greater profitability.
TALLAHASSEE, FL – Advanced Manufacturing International (AMI) has been awarded a $2M grant