Smart Connected Assets And Operations Market — Generate Significant Revenues through 2024

The Internet of Things has become a globally adoptive technological solution which has shown a significant shift from the academic circles to various other industry. This is predominantly, due to the development of cost-effective sensors, affordable connectivity, accessible cloud platforms, effective processing and storage capabilities of large amounts of structured and unstructured data by the big data platforms, abundant mobile applications and smart machine learning tools.

Smart connected asset and operation are the devices used by the enterprises to produce and deliver goods and services that can efficiently sense and respond to internal and external environment in a prompt and accurate manner. The smart connected asset and operation devices are well aware of environment and can react to design and configuration, support customer requirement or supplier performance and even handle inventory and maintenance schedule.

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Smart connected operation provides a comprehensive path for managing factory and its production line. It significantly transform the manufacturing operation and allow manufacturer to have real time analysis of operation data through predictive analytics technology. Smart connected asset and operations are developed through convergence of big data analytics and, cloud and mobile technologies that are merging traditional Informational and operational technology (IT/OT).

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Increase in manufacturing agility, need for cost reduction and energy and requirement for improving performance has driven the smart connected asset and operation market. Manufacturing industry significantly adopt new technology in order to efficiently compete and fulfil customer demand through improving efficiency and flexibility.
 

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