Infographic

The Internet of Things: the next economic revolution

Share this post:

The industrial Internet of Things

The Internet of Things is beginning to permeate every facet of our world and take hold in all major industries. The introduction of IoT technologies into manufacturing and large, industrial scale machinery, is fostering a new economy nurtured by these technologies. The Industrial IoT enables machines to communicate with one another as well as with their human counterparts. This provides improved safety, security, and efficiency. The Industrial IoT will have wide-reaching economic impacts.

Advancing technology brings us forward

This movement has been sparked by the low cost of sensors, and the reliability of long-range wireless technology. These innovations make it possible for sensors to be implemented in all scales of equipment, while long range networks provide connectivity across massive distances. One example of this is LoRa.

Lora is a low power wide area network that provides wireless connectivity for Things and devices. These devices can provide connectivity across 15km. These advances will enable large scale industrial productions to connect to the cloud, seamlessly.

The economic impact

These advances go beyond just manufacturing and will spread into farming, city planning, energy management, and more. This expansion will create a boom of technological, economic, and global benefits. It is predicted that this growth will be comparable to the industrial revolution. If so, it will increase the GDP around the world, and provide new economic, technical, and employment opportunities to citizens globally. As with previous revolutions, it is expected that the industrial IoT revolution will drive up average incomes, living standards, particularly in industrially advanced economies.

The infographic below from RS Components Ltd details this boom of business and technological advancements.

IoT - the next economic revolution

IoT – the next economic revolution

More Infographic stories

IoT Exchange Sydney: Unlock new value from data with AI and IoT

Written by Joel Pinto | June 21, 2019 | Conferences, Engineering, Events...

IBM IoT Exchange is an educational event designed to teach and inspire attendees with the latest innovations and thinking. ...read more


Top Takeaways from IoT World 2019

Written by Sarah Dudley | May 20, 2019 | Asset Management, Manufacturing, Platform

The total number of Internet of Things (IoT) devices is expected to hit 10 billion by 2020. With this explosion of growth also comes an uptick in the conversations around how to use these devices and the data they generate to improve our businesses and our lives. At IoT World, North America’s largest IoT event ...read more


The Daily Exchange: Day 1 at IoT Exchange

Written by Sarah Dudley and others | April 24, 2019 | Buildings, Engineering, Events...

Welcome to Day 1 of the IBM® IoT Exchange. With four academies, main stage presentations and a robust solutions showcase, it was an information-packed day, with IoT thought leaders and experts, and IBM customers, IBM Business Partners and staff. Did we mention we had a backyard party, too? More on that later. If you’re here with ...read more