Globally, the Industrial Internet of Things (IIoT) is building a robust bridge between Information Technology (IT) and Operational Technology (OT). The confluence of IT and OT opens a multitude of avenues for capital-intensive industrial sectors. Especially, industries related to Manufacturing, Healthcare, Oil & Gas, Utilities & Aviation will reap benefits, thanks to IIoT capabilities.
In a report, the General Electric Company, that coined the term IIoT, quoted the following statistics:
- The IIoT can benefit 46% of the globe’s economy
- The potential of IIoT to impact energy production remains at 100%
- As for energy consumption, the global impact is pitched at 44%
- 2020 will see IIoT becoming a $225-billion market
So, how are enterprises defining IIoT?