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Smart factories are expected to add $1.5 and $2.2 trillion over the next five years, according to a Capgemini Research report.
Matthew Potts, Project Sales Engineer at HMK, said that smart factories are “a harmonious communication between all the devices on the factory floor and the larger plant management to ensure that all the equipment is functioning as productively as possible.”
The Capgemini research found that compared to the last three years, looking forward to the next five years, manufacturers will increase their investments in smart factories by 1.7 times and create 40 percent more smart factories. IoT and 5G technologies are poised to transform current processes and provide real-time and reliable processes and monitoring.