Press release
Industrial IoT Market Growth In Germany at a CAGR of 5.8%
The German Government has undertaken the industry 4.0 project to computerize operations of the manufacturing industry in a bid to increase resource efficiency and industrial output. Cyber-physical systems and IoT form the technological base for this project. The goal of Industry 4.0 is to transform factories into smart factories.
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In Europe, Germany is leading in terms of the implementation of IoT solutions, especially in the manufacturing and automotive industries. It is also at the forefront in terms of the implementation of this technology in the energy sector for increased energy conservation. German industrial production is the mainstay of Europe's largest economy. Companies across high-tech industries such as machinery, automotive, chemicals, pharmaceuticals, electronics, and aerospace are at the forefront of implementing advanced technologies. Siemens, Bosch, and other companies have already implemented the Internet of Things and web-based manufacturing processes in their factories. Electric motor manufacturers Wittenstein and Bosch have implemented smart technology in their hydraulic equipment assembly lines to improve production efficiency.
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The implementation of industry 4.0 technologies has helped Bosch reduce the carbon footprint at its factories. Connected manufacturing has played a crucial part in this achievement: Industry 4.0 solutions help monitor energy consumption and make it more efficient. Intelligent algorithms help predict energy consumption, avoid peak loads, and correct deviations in energy consumption.
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