IoT applications in factory operations optimization have the potential to create value of $1.2 to $3.7 trillion per year by 2025. Manufacturers and machine providers are in a position to jointly create this value, thanks to new IoT technology advancements.

With more than 60% of a building’s energy consumption coming from HVAC equipment, companies are looking at IoT technologies to achieve energy efficiency standards, while still meeting increasing innovation demands in product development and customer service.