IoT Market in Product Lifecycle and Asset Management Will Hit at CAGR of 19.65% Between 2017-2021 Evolution of Predictive Maintenance with IoT
IoT is defined as a network that connects all the devices related to the industry, such as sensors, actuators, transmitters, microcontrollers, and microprocessors. PLM is the process of managing the entire lifecycle of a product starting with the concept and ideation, to engineering and design, manufacturing, post-sale services, and finally the disposal of products. AM is about tracking and managing the costs associated with the asset lifecycles.
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