New Briefing: Internet of Things: The Future Impact on Industries and Countries
Euromonitor International is pleased to present a new briefing: Internet of Things: The Future Impact on Industries and Countries. The global economy is shifting towards digital environment as quickly as never before. The Internet of Things (IoT) adoption is one of the key tendencies during the transition and the technology will have an impact on all the global economy, which is valued at USD150.2 trillion as of 2017. The briefing provides key insights which countries are best prepared to embrace the IoT solutions to drive the technology-based economy programmes, such as Industry 4.0. Moreover, the briefing analyses what sectors and industries should be the main contributors to the IoT implementation, what are the main drivers of adoption and key risks.
Source: Euromonitor International
Did you know?
- 100-150 billion consumer and business devices are estimated to be connected to the Internet of Things by 2030. This is an increase of over ten times from a level of 2017;
- All of the best positioned countries to adopt IoT solutions are advanced economies. Developed digital infrastructure, innovations-minded companies and strong institutions are the key IoT enabling factors;
- IoT is set to be a backbone technology behind the fourth Industrial revolution. Manufacturing machinery, processes, sensors, logistics and suppliers’ systems as well as buyers will all be interconnected in the Internet of Things;
- Energy, utilities and recycling sector is seen as primary adopter of the IoT solutions. The ease of adoption will be driven by universal activities throughout the sector globally, clear vision, and likely government support;
- Manufacturing sector will benefit vastly from the IoT adoption in operations in the future. The main areas of the IoT usage will be connected to effective supply chain management, productivity and precision increment and product portfolio diversification over semi or fully artificial intelligence-controlled processes.