Too Long; Didn't Read
A recent survey by McKinsey reveals that manufacturers who had managed to transition to Industry 4.0 prior to the pandemic felt better equipped to handle the crisis. McKinsey expects the industrial IoT sector to [reach $500 billion by 2025]. Cisco believes this industry will be among the largest beneficiaries of the Internet of Things in manufacturing, as the technology will make a whopping $3.9 trillion impact on this sector. The smart factory concept relies on other technologies, such as [artificial intelligence] (AI), computer vision, big data, and different types of automation.