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 global study launched today by Inmarsat (LSE:ISAT.L), the world’s leading mobile satellite communications company, which found that organizations, across the global supply chain, expect IIoT to be increasing their annual revenues by 10 percent within five years.
The Industrial Internet of Things is set to revolutionize how businesses function in the next few years. There will be significantly increased automation and operational efficiency through the use of real time data and machine-to-machine communication right across the planet. Access to reliable and resilient connectivity, particularly in remote regions or at sea, where terrestrial networks are not available but satellite communications are available, will be essential to the success of many IIoT deployments.