Friday, November 14, 2014
Stories to watch in 2015: Digital/industrial "Internet of Things"
Two big business opportunities are emerging next year in the electronics and high-tech industry.
The first is the growing importance, broader use and greater leveraging of digital as the industry’s universal language and driver of all key decisions, investments, goal-setting and performance metrics. The second is the rise in the commercialization of the industrial "Internet of Things."
Next year, when industry executives make priority evaluations about strategy, marketing, investments, product development, supply chain, customer service and many other aspects of their businesses, they will use digital strengths, assets, and competitive capabilities as prime decision-making criteria. It will be more evident that electronics and high-tech businesses are becoming completely digital and more consumers are living fully connected digital lifestyles.
Accenture defines the industrial Internet of Things as the convergence of intelligent industrial products, processes and services that communicate with each other and with people over global networks. This spans many aspects of the electronics and high-tech industry, such as manufacturing, supply chain and product development. Conservative estimates say global industrial Internet spending will increase from $20 billion in 2012 to $500 billion by 2020.
Measured by the number of commercial products, applications used and technological innovation, the industrial IoT will take a major step forward next year. It is evolving rapidly into new ways to connect disparate types of electronics equipment, devices, services and software than have ever been connected before, delivering unprecedented benefits, opening new markets, changing how people live and work.
For more of the RCR Wireless story: www.rcrwireless.com
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