{"id":6091,"date":"2016-02-24T07:00:38","date_gmt":"2016-02-24T15:00:38","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=6091"},"modified":"2016-01-21T08:13:45","modified_gmt":"2016-01-21T16:13:45","slug":"industrial-internet-of-things-iiot-optimizing-resources-and-making-decisions-better","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/industrial-internet-of-things-iiot-optimizing-resources-and-making-decisions-better\/","title":{"rendered":"Industrial Internet of Things (IIoT): Optimizing Resources and Making Decisions Better"},"content":{"rendered":"

The Internet of Things market is shaping up to be huge. \u00a0So much so that analysts are divvying up the market into submarkets when doing analysis.<\/p>\n

Research and Markets<\/a>, for example, identifies a market that they’re calling the Industrial Internet of Things<\/a> (IIoT). \u00a0It is IoT as applied and used for manufacturing, metals & mining, and healthcare. \u00a0For just that sector of the total IoT market, Research and Markets is\u00a0forecasting a market size of\u00a0$151 billion by 2020. \u00a0Healthcare’s use of IoT, in particular, is singled out as growing at the quickest pace, for example, by enabling real-time monitoring of patients.<\/p>\n

A report by McRock Capital<\/a>\u00a0suggests\u00a0that “the Industrial Internet of Things (IIoT) is the next wave\u00a0of innovation impacting the way the world connects and\u00a0optimizes machines. The IIoT, through the use of\u00a0sensors, advanced analytics and intelligent decisioning,\u00a0will profoundly transform the way field assets connect\u00a0and communicate with the enterprise.”<\/p>\n

The R&M report<\/a> identifies enablers of IIoT technologies as internet-enabled\u00a0sensors, cloud computing, standardization of IPv6, and better wireless networks.<\/p>\n

The R&M report also finds that industrial businesses can be better optimized in terms of better use of resources, better decision making, and improved monitoring of assets by using innovative technologies like IoT.<\/p>\n

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The Internet of Things market is shaping up to be huge. \u00a0So much so that analysts are divvying up the market into submarkets when doing analysis. Research and Markets, for example, identifies a market that they’re calling the Industrial Internet…<\/span><\/p>\n

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