The Industrial Internet of Things (IIoT) is set to make a sizeable contribution to the global economy by 2023. This is according to a new study released by Inmarsat, the world mobile satellite communications company based in London.
According to researchers, supply chain managers expect IIoT to be increasing their annual revenues by 10 per cent within 5 years.
The report – “IIoT on Land and at Sea” – was compiled by the market research firm, Vanson Bourne, which surveyed 750 businesses with a combined turnover of $1.16 trillion annually. Respondents were drawn from a wide range of industries, including the agriculture, energy, maritime, mining and transport sectors.