German manufacturers are pulling ahead of their American counterparts in implementing digital and Internet of Technology solutions
As the Internet of Things IoT revolution continues to inspire an endless torrent of interconnected gadgets and smart devices, the United States is continuing to ramp up its investments and energy into the lucrative market.
However, despite Silicon Valley's ambitious venture into the sector, German manufacturers are powering ahead in implementing digital and IoT solutions compared to their American peers.
The report also notes that as global manufacturing rates continue to rise, automated technologies is likely to become a major trend in manufacturing operations within the next decade.
According to the International Data Corporation IDC , the global IoT market is expected to be worth $1.7tn by 2020.
According to technology research firm Gartner, predicted global spending on IoT security will reach a whopping $348m £239m in 2016, $434m in 2017 and $547m in 2018.
"The early adopters have set a fast pace for implementation and are building capabilities that will enable them to increase their lead," the report notes.