How big is the economic power of the Industrial Internet? Consider one analysis that places a conservative estimate of worldwide spending at $500 billion by 2020, and which then points to more optimistic forecasts ranging as high as $15 trillion of global GDP by 2030. The Industrial Internet is producing huge opportunities for companies in all industries, but especially in areas such as Aviation, Oil and Gas, Transportation, Power Generation and Distribution, Manufacturing, Healthcare and Mining. Global companies are looking to leverage the Industrial IoT to reduce unplanned downtime, dramatically increase efficiency and ultimately open up a new era of economic growth and competitiveness. The following stats highlight the impact of IoT on the international market.
• The global (IoT) market will grow to $1.7 trillion in 2020
• The number of “IoT endpoints” will grow more than 29.5 billion by 2020
• Industrial IoT spans industries representing 62% of G20 nations GDP.
Industries including Manufacturing, Mining, G, Agriculture, Utilities etc Kingdom Industrial IoT will bring together forward-thinking companies from the Oil & Gas, Energy, Utility, Manufacturing and Transportation Industries to understand the Industrial IoT revolution.
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