The Internet of Things: What It Means for US Manufacturing

The PWC published a white paper in conjunction with The Manufacturing Institute.  From the executive summary: 

The world is hurtling into an era of deep data inter-connectivity. From collars with microchips that map a pet’s wanderings to jet engines alerting manufacturers of imminent maintenance needs, the Internet is getting hit with conversations from one device to another. This is the Internet of Things (IoT), and it’s creating mountains of data, much of which has yet to be fully put to use. What’s enabling the IoT is a massive instrumentalization of the world, with literally billions of devices equipped with unique IP addresses—whether it be a smart phone, a camera on an oil-drilling rig or an optical sensor in a steel mill—that collect and send data. This isn’t just a vision of the future. The installed base for Internet connected devices already exceeded 14 billion by early 2015, and is forecast to mushroom to nearly 50 billion by 2020 according to one estimate.

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