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Articles | Value Walk | October 27, 2016

The Industrial Internet of Things (IIoT): $10-$15 trillion Boost in GDP?

IIoT – We’ve all heard about how the consumer version of the internet of things (IoT) will impact our lives. Smart devices in our homes, cars, and cities are already beginning to send and receive data to each other, allowing for unprecedented integration with consumer technologies.

But the implications of this revolution of connectivity extend way behind just smartphones and your home. In fact, it’s about to be applied on an industrial scale to everything from aerospace to mining in ways that people can hardly imagine.

The Industrial Internet of Things (IIoT) will pull data from millions of tiny sensors on every piece of industrial equipment fathomable. Companies will harness this data in real-time to create insights and efficiencies on a crazy scale: GE estimates it will help to generate a $10-$15 trillion increase in global GDP over the next 20 years.

Read the full article here.

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