The IoT is all about the power of connection. No single technology provider can enable the IoT alone, so it makes sense that fulfilling its promise requires collaboration. There is a need to create a vibrant ecosystem of organisations that can speed the development of the IoT in industries and applications everywhere. Collaboration across this ecosystem will require bringing together the range of expertise and abilities required to create the IoT value chain.
The industrial arm of the IoT is a major trend that has significant implications for the global economy. It spans industries including agriculture, manufacturing, oil & gas, and utilities, representing 62% of GDP among the G20 nations. Companies that depend on physical goods to conduct business - such as organisations that operate hospitals, warehouses and ports, or companies that offer transportation, logistics and healthcare services are also involved.