4 Takeaways From Accenture's $14 Trillion IoT Prediction
Accenture's report says the industrial Internet of Things will create more jobs than it kills, but that companies aren't doing much to exploit it yet.
Accenture has lobbed in its prediction of how much the economy will get from the industrial Internet of Things -- $14.2 trillion by 2030, which is an eerily similar to Internet of Things predictions from GE and Cisco.
But that $14 trillion figure isn't the most interesting -- or actionable -- idea in Accenture's report. The report focuses on the industrial Internet of Things -- tactics such as putting a sensor on a welding machine, a jet engine, an x-ray machine, or a turnstile and gathering data from that to make better decisions, like when to do maintenance or increase staff. This industrial IoT is easier to execute in many ways than a customer-facing IoT strategy, like Google's Nest, because the industrial IoT involves a closed loop of company-controlled gear and employees, with clear goals of cutting costs or driving up sales.
Still, big obstacles remain to industrial IoT success, as Accenture makes clear. Here are three conclusions that struck me about Accenture's report: