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Industrial Internet of Things to Boost Global Economy by 2030

Trend Summary: The Industrial Internet of Things could add $14.2 trillion to the global economy by 2030.

In its latest overview paper Accenture plc - the UK headquartered multinational management consulting, technology services and outsourcing company - predicts that the principal driver of global productivity and growth over the next fifteen years will be ...

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... the Industrial Internet of Things [IIOT].

Accenture defines the IIOT as "a network of physical objects, systems platforms and applications that contain embedded technology to communicate and share intelligence with each other, the external environment, and with people".

The firm also predicts that the IIOT will accelerate the reinvention of sectors that account for almost two-thirds of world output.  

The firm's paper asks rhetorically: "Are companies [and by extension, marketers] prepared to take full advantage of this opportunity? Are governments putting the right conditions in place to facilitate progress and capture benefits?"

Although a few pioneers are already reaping rewards from their early investments in the IIOT, widespread adoption is hampered by major challenges. However, Accenture believes that the IIOT offers a chance to redefine many business sectors and accelerate growth.

Read the original unabridged Accenture.com article.

[Estimated timeframe:Q1 2014 - Q4 2030]

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Accenture.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6492

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