The industrial control for process automation market is expected to grow at an 8.5% compound annual growth rate (CAGR) during the next five years, according to a new study, "Industrial control for process automation market-growth, trends and forecast, 2019-24," by ResearchAndMarkets.com.
The report adds that the Industrial Internet of Things (IIoT) and Industry 4.0 are dominating trends in the industrial sector, with machinery and devices being connected via the Internet. As a result, IoT connected devices increased to 20.35 billion in 2017 from 15.41 billion in 2015, and they're expected to reach 51.11 billion by 2023.
