The IIoT market is expected to grow from $77.3 billion in 2020 to $110.6 billion by 2025, according to “IIoT Market by Device & Technology, Connectivity, Software, Vertical, Region – Global Forecast to 2025”, a new report by MarketsandMarkets. Technological advancements in semiconductor and electronic devices, increased use of cloud computing platforms, standardization of IPv6, and support from governments for IIoT-related R&D activities will drive the growth. The growth rate is expected to be highest Asia Pacific region.
“Big Tech in Healthcare”, a new report by Business Insider, projects that the market for healthcare-related IoT (which they called Internet of Medical Things or IoMT) will reach $158 billion in 2022. This is nearly four-times jump from $41 billion in 2017. Business Insider also reported last year that there will be more than 161 million IoT devices in healthcare by the end of 2020. In the meantime, however, a survey of healthcare executives found that a lack of qualified team members for analyzing data was their biggest challenge for successfully implementing predictive analytics based on the collected data.
Globally, the coverage of 5G network is increasing rapidly. As of January 2020, commercial 5G networks are available in 378 cities across 34 countries, according to “The State of 5G Deployments,” a report by Viavi Solutions. South Korea ranks the first in terms of the numbers of cities where 5G network is available. 5G network is available in 85 cities in South Korea, followed by 57 in China and 50 in the U.S.
A combination of Japan’s largest exhibitions – “Smart Factory Expo”, “RoboDEX, and “Wearable Expo” – took place from 12 to 14 February, at Tokyo Big Sight, Japan. Altogether, 638 exhibitors presented latest smart factory solutions such as, IoT, FA/robotics, and AI. AI-related tools and solutions including deep learning and machine learning, AI analytics and AI platform was presented at a dedicated “AI Zone” during the Smart Factory Expo. The Expo also featured 90 seminars on smart factory.
A new malware that exploits flaws in connected devices is targeting manufacturers, warns Researchers at TrapX Labs. The threat exploits vulnerabilities in Windows 7 embedded devices and specifically targets manufacturing sites. Possible malfunction of infected devices poses risks to workers’ safety, supply chain disruption, and data loss. According to TrapX Labs, the attack originally targeted Latin American manufacturers when it found the attacks in October 2019, but then expanded globally.