Overall, over the next ten years, more IoT value is likely to be created in advanced economies because of the higher value associated with each deployment. However, the potential number of IoT uses is likely to be higher in developing economies. The level of value in advanced and developing economies will vary depending on setting, industry, and application.
The applications that drive the most value in developing economies differ from those in advanced economies and, in some cases, because there are no legacy technologies to displace, developing economies can “leapfrog” in IoT implementations. Nevertheless, we estimate that 62 percent of the potential annual economic impact of IoT applications in 2025 will be in advanced economies and that 38 percent will be in developing economies.
The higher value in advanced economies reflects higher wage rates and costs, which raise the economic value of increased efficiency (Exhibit E2). As the values in developingeconomy markets rise, the economic impact associated with IoT also will grow. The high volume of estimated installations in developing economies reflects the shift of global economic growth to those areas, which has important implications for companies that compete in IoT equipment and service markets.
China will be one of the largest users of IoT systems in factories as well as in other settings. Countries with oil and gas operations—among the most important early adopters of IoT—will also be major geographic markets Consumer uses of IoT technology have garnered a great deal of attention, thanks to media coverage of fitness monitors and home automation.
While these applications do have tremendous potential for creating value, our analysis shows that there is even greater potential value from IoT use in business-to-business applications. In many instances, such as in worksite applications (mining, oil and gas, and construction), there is no direct impact for consumers.
A great deal of additional value can be created when consumer IoT systems, such as connected consumer health-care products, are linked to B2B systems, such as services provided by health-care providers and payors. You can visit this to know tvgosat. You can also collect the latest headline news around the world from golpanews.