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The Industrial Internet of Things as the Next Big Growth Driver?

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The Industrial Internet of Things as the Next Big Growth Driver?

The Industrial Internet of Things as the Next Big Growth Driver?

The Internet of Things (IoT) is often marketed as a consumer-based technology phenomenon that will combine the potential of low-cost sensors and big data with wide-scale internet connectivity.

The promise of this consumer-focused vision of IoT is to change how we interact with daily objects in our lives. When people talk about the IoT, they often bring up ideas such as the connected home, automobiles, or health – concepts that will change how we live on a personal level.

But flying under the radar is a less sexy sub-sector of the IoT that could ultimately prove to be the most transformative – the marriage of the internet of things with industrial applications such as mining, oil and gas, infrastructure, aviation, locomotives, cities, farming, manufacturing, and power generation.

It’s been coined the “Industrial Internet of Things” (IIoT) by giants like GE, AT&T, Cisco, Intel, and IBM– and today’s infographic from RS Components shows that the economic growth stemming from this industrial internet revolution could be game-changing.

Industrial Internet of Things

The opportunity behind the IIoT is massive, and it’s measured in the trillions of dollars.

GE, for example, expects that by 2030 that it will add $10 to $15 trillion to global GDP, and that it could raise average income significantly throughout the world.

IIoT circle

Like previous industrial revolutions, the IIoT will allow for greater automation of previously human-intensive work, creating greater productivity per man-hour invested.

Some potential applications:

Smart Farming: Making use of the vast amounts of information from crop yields, soil-mapping, fertilizer applications, weather data, machinery, and animal health, to improve yields and cut costs in the modern farming environment.

Smart Manufacturing: Using the industrial internet to create a fundamental shift in how products are invented, manufactured, shipped and sold. Intelligent networks will power the value chain – connecting people, processes and data and generating new best practices.

Smart Cities: Cities could stand to benefit significantly from connecting people, processes, data, and things together. City assets such as libraries, transportation systems, power plants, water supply networks, waste management systems, law enforcement, hospitals and other community services could feed off each other. Local governments will understand what is happening on micro and macro levels, and how the city is evolving.

Smart Energy: Power generation can be improved by combining sensors, big data, and connectivity. Imagine wind farms that make slight mechanical adjustments to capitalize on the small changes in wind velocity or direction, to be more efficient – this is only scratching the surface of what is possible.

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The World’s 100 Most Valuable Brands in 2019

Technology brands account for 20 of the world’s 100 most valuable brands in 2019, combining for a whopping 43% of total brand value.

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The World’s 100 Most Valuable Brands in 2019

Brand equity can be a challenging thing to build.

Even with access to deep pockets and an innovative product, it can take decades of grit to scrape your way into the mainstream consciousness of consumers.

On the path to becoming established as a globally significant brand, companies must fight through fierce competition, publicity scandals, changing regulations, and rapidly-evolving consumer tastes – all to take a bite from the same piece of pie.

Cream of the Crop

Today’s visualization comes to us from HowMuch.net, and it showcases the 100 most valuable brands in the world, according to Forbes.

Here are the powerful brands that sit at the very top of the list:

RankBrandBrand Value ($B)1-Yr Value ChangeIndustry
#1Apple$205.5+12%Technology
#2Google$167.7+27%Technology
#3Microsoft$125.3+20%Technology
#4Amazon$97.0+37%Technology
#5Facebook$88.9-6%Technology
#6Coca-Cola$59.2+3%Beverages
#7Samsung$53.1+11%Technology
#8Disney$52.2+10%Leisure
#9Toyota$44.6+0%Automotive
#10McDonald's$43.8+6%Restaurants

It should be noted that the list is ordered by brand value, a measure that tries to calculate each brand’s ultimate contribution in financial terms to the parent company. You can see that full methodology here.

Finally, it’s also worth mentioning that brands with only a token representation in the United States have been excluded from the rankings. This means companies like Alibaba or Vodafone are not represented in this particular visualization.

Tech Rules Again in 2019

For another straight year, technology dominates the list of the 100 most valuable brands in 2019 – this time, with six of the top seven entries.

Most of these brands saw double-digit growth in value from the previous year, including Apple (12%), Google (27%), Amazon (37%), Microsoft (20%), and Samsung (11%). The one notable exception here is Facebook, which experienced a 6% drop in value attributed to various struggles around the company’s reputation.

Here’s a look at how industries break down more generally on the list:

Industry# of BrandsBrand Value ($B)
Total100$2,231.9
Technology20$957.6
Financial Services13$198.1
Automotive11$208.9
Consumer Goods10$123.8
Retail8$133.0
Luxury6$124.1
Beverages4$49.3
Diversified4$56.8
Alcohol3$69.8
Apparel3$34.7
Business Services3$33.5
Restaurants3$73.0
Telecom3$24.3
Heavy Equipment2$36.7
Leisure2$19.8
Media2$34.8
Transportation2$41.1
Tobacco1$12.6

As you can see, technology brands make up 20% of the list in terms of the number of entries – and a whopping 43% of the list’s cumulative valuation.

In total, technologies brands combined for $957.6 billion in value. Even when including Facebook’s recent drop, this is an impressive 9.7% increase on last year’s numbers.

Will the double-digit increases for the world’s largest tech giants continue into 2020, or are brands such as Amazon and Google going to start seeing the same type of pushback that Facebook has grappled with among consumers and regulators?

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Chart of the Week

The 10 Breakthrough Technologies That Will Define 2019

Which innovations will dominate headlines in 2019? According to Bill Gates, watch for these 10 breakthrough technologies to change the world.

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The 10 Breakthrough Technologies That Will Define 2019

Gone are the days of turning stones into spears. With the advent of new technologies, we’ve learned to develop tools that not only make living faster and easier every day, but also improve the future of humanity as a whole.

Today’s Chart of the Week draws from the MIT Technology Review, which features Bill Gates’ predictions for the top 10 breakthrough inventions that will capture headlines in 2019.

Top 10 Breakthrough Technologies

1. Gut Probe in a Pill
These swallowable devices can detect and potentially prevent diseases that cause malnutrition and stunted growth in millions of children worldwide.

2. Custom Cancer Vaccines
Personalized cancer vaccines, targeting only the cancerous cells and leave healthy cells alone, could help ensure faster recovery times and pose fewer risks to patients.

3. Meat-free Burgers
Plant-based and lab-grown food products will ideally alleviate the environmental impact of the livestock industry.

4. Smooth-talking AI assistants
The AI assistants of the future will have even more human-like conversations to personally engage customers. Companies would see measurable benefits, with just one breakthrough here garnering a 5% jump in productivity.

5. Sanitation without sewers
Improperly drained sewage causes death in one out of every nine children. Sanitation that doesn’t require sewers would not only prevent exposure diseases but also help turn waste into useful products like fertilizer.

6. ECG on your wrist
While most medical ECGS have up to 12 nodes to detect abnormalities, today’s wearables typically have only one. An ECG on the wrist would help reduce the risk of heart disease by monitoring changes and patterns in daily life.

7. Robot Dexterity
Advancements in robotics will enable the natural dexterity required to complete a greater range of tasks, such as helping an ailing loved one out of bed, doing the laundry, or building toys.

8. Predicting Preemies
Premature births are the leading cause of death for children under five years old. Tests to detect the possibility of a premature birth could be available in doctors’ offices in as little as five years.

9. Carbon Dioxide Catcher
Carbon dioxide catchers filter out CO₂ from the air and capture it for other uses. These include synthetic fuel creation, CO₂ for soft drinks, and plant growth in greenhouses.

10. New-wave Nuclear Power
Traditional nuclear reactors produce ~1,000 megawatts (MW), while these proposed mini-reactors would produce tens of megawatts ─ making them safer, more stable, and more financially viable for potential users.

A Vision for a Better Future

The biggest takeaway?

Seven of the 10 breakthrough technologies stem from the healthtech sector.

While several inventions on this list are years away from becoming a reality, they continue to embody the vision and passion that humans share to create and explore.

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