The Industrial Internet of Things, often referred to as IIoT, is being hailed by some as the next great industrial revolution. Analysts have predicted that the IIoT could produce as much as 14 trillion dollars in economic gains over the next decade. Even conservative estimates show that the IIoT will have a tremendous impact on our economy. It is no surprise then that companies are rushing to harness the potential of the IIoT by developing new products, services, and business systems.
One area in which the IIoT creates value is from the creation of a network of smart, connected sensors and controllers that not only talk to each other but are used to monitor and manage a wide range of machines and industrial systems.