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IoT is the network of physical objects and devices (such as computers, machines and robots) connected to the internet to collect and share data. Industrial automation will connect products and systems on the factory floor, as well as industrial assets in the field, through the cloud, allowing them to communicate to optimize design and production. This should lead to more productive factories and higher quality operations, not to mention better products.

A state-of-the-art automotive plant, for example, uses industrial automation technologies to design the optimal robotics path to boost weld quality and productivity. Sensors collect real-time data and can feed information about the production process from the later stages of manufacturing back into the earlier stages of design and manufacturing. In this factory of the future, people and collaborative robots work side by side. Global leaders in industrial automation will transform manufacturing and—as they succeed—attract considerable investor attention.