The Industrial Internet revolution has begun, and is anticipated to be the most disruptive technology in industry since the Internet revolution of the 1970s and 1980s. According to a recent report by General Electric and Accenture, 80-90% of surveyed companies, across all industries, indicated that Big Data analytics is a top priority for their organization. Another survey from Cap Gemini shows that the internet of Things is top of the list of most corporations ‘priorities.
However, another report from the World Economic Forum states that 88% of those surveyed do not yet fully understand the Industrial Internet’s underlying business models and long-term implications to their industry. Organizations that do not begin implementing an Industrial Internet adoption strategy will find they are quickly falling behind their competitors.
Business Insider released a report that looked into the future of the Internet of Things (IoT) market and focused on three main IoT sectors: enterprise, home, and government. Enterprise will be the top investor in this growing technology, including industries like manufacturing, transportation, utilities, and construction. According to the report, manufacturing is expected to be at the top of industry investments.in fact, manufacturers are expected to spend an estimated $140 billion over the next five years. Moreover, there are expected to be an estimated 23.3 billion IoT devices in use by 2019, with 9.1 billion – or 40% – being used in the enterprise industry. To put that into perspective, the IoT market is slated to outgrow both the smartphone and tablet markets combined!
The IoT Solutions World Congress (IoTSWC) that Barcelona hosts from 16th to 18 September 2015 brings together industry leaders to discuss how the Industrial Internet can be deployed, how it is already being used, and what the various benefits are. The programme is quite extensive as it will includes different industry tracks such as:
- Energy & Utilities
- Healthcare and Manufacturing
- Transportation and logistics
IoT also has a lot of applications for Smart Cities. No doubt that hosting the event will help Barcelona consolidating it´s #1 position in the world Smart Cities ranking.
As the definitive agenda of The IoT Solutions World Congress is still building up, it certainly will be the topic of a next post.