IoT, IIoT, connected industry and Industry 4.0 come together to create a new model for business
Industry 4.0 (I4.0) and Industrial Internet of Things (IIoT) are both terms describing potentially disruptive technology trends in industrial settings, writes Matt Wopata, a senior analyst at IoT Analytics in an excerpt from the firm’s upcoming ‘Connected Industry and Industry 4.0 Market Report 2018-2023’.
Both terms get used often, without clear differentiation and sometimes even interchangeably, as they represent meta-terms for the ongoing innovation of the manufacturing sector as a whole – a sector that directly represents about 20% of all jobs in Europe and ~12% in the US.
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