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Smart Industries Market Greater Revenue Share by 2028 By Fact.MR Steady
Fact.MR has announced the addition of the “ Smart Industries Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028"report to their offering.

BriefingWire.com, 2/14/2019 - Global Smart Industries Market: Overview

The digital transformation is changing the way businesses are using connected technologies in the manufacturing and industrial sector for business advantage. The evolution of the Internet of Things (IoT) and the rise in industrial automation are driving the smart industries market. Presently, the industries across the globe are facing industrial revolution, i.e. industry 4.0 that enables them to integrate machines with the connected technologies. Technologies such as cobotics, machine learning, data analytics, and the Internet of Things (IoT) are driving the growth of smart industries market.

The smart industries are rapidly growing due to the increasing automation, digital transformation and connected technologies that are having a positive impact on the industrial or manufacturing sector. The combination of information technology and operational technology is one of the critical growth enablers of smart industries market. In smart industries, digital technologies such as the Internet of Things, big data, AI, and collaborative robots (cobotics) are used as advanced tools for applications in various industry verticals. Also, the smart building was introduced to optimize energy consumption and reduce operating costs to analyze operational energy data for actionable insights. It enables facility optimization through the convergence of information technology and building automation. This is one of the major factors that is driving the growth of the smart industries market. The utility sector is shifting their focus to connected technologies in order to increase productivity and business process. The utilities are shifting towards current grid technologies that are integrated with networking and computational capabilities to connect and automate energy distribution and transmission. Also, the government across various countries are taking initiatives for smart grid rollout that drives the growth of smart utilities market. This growth in smart utilities market tends to drive the smart industries market globally.

The key vendors in the smart industries market are focusing on offering differentiated technologies for businesses in order to compete in the smart industries market. The increase in the usage of connected technologies that are integrated with other digital technologies is driving the growth of smart industries market.

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