Last month, Fitch Solutions released a special report that looks at the Fourth Industrial Revolution (4IR) and the rising adoption of AgTech, connected cars, and digital health.
According to the new edition, “4IR is primarily defined as the blurring of physical, digital and biological worlds framed by disruptive technologies.”
“…[4IR] means that every company becomes a tech company, and that every product becomes a service.”
The acceleration in adoption of 4IR, decidedly lead by the US and China, is still early stage—particularly in AgTech. According to various sources, including the United States Department of Agriculture (USDA), Purdue University and PrecisionAg.com, although AgTech options are still early stage, deployment is increasing. Recent growth in farm management software, supply-chain related technologies, as well as precision farming and analytics have accelerated smart farming investments all over the world.
Similarly, the connected car market is also expanding. In Brazil, favorable regulations have lead to strong growth in machine-to-machine (M2M) connections. Likewise, IoT differentiation and industry collaborations have lifted sales for both Toyota and General Motors.
Finally, digital health and AI are cited as top priorities for the FDA, and security and precision medicine are among the many potential use cases targeted by IoT.
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