Industrial IoT (IIoT) holds a lot of promise for a diverse range of industries, including agriculture, healthcare, financial services, retail, and advertising.
Its market size is expected to reach USD 1.11 trillion by 2028, registering a CAGR of 22.8% from 2021 to 2028, according to a 2022 report by Grand View Research, Inc.
Without a doubt, it’s an essential sector in the movement from the Third to the Fourth Industrial Revolution. In other words, it is not an option for enterprises that want to be digitally mature.
But how does it work?