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Billions of devices and then trillions of dollars: it's the 'Industrial Internet'

Posted By TelecomTV One , 27 November 2012 | 1 Comments | (0)
Tags: GE M2M IoT Industrial Internet

General Electric has just completed a study and feels enthusiastic enough to enter a new buzz phrase into an already crowded M2M lexicon - the 'Industrial Internet' is on its way. By I.D. Scales.


In fact this is an excellent paper and GE has committed itself to big numbers.  It predicts that connecting the world's machines and having them do more intelligent things could boost global GDP by US$10-15 trillion by 2030. 
This is another lens on the benefits of an increasingly connected world of 'things' -  whether they be real-world sensors, consumer devices, data objects in the cloud or indeed machines, the latter being GE's particular 'thing' of course.  Industrial machines, medical kit, consumer durables, you name it GE is in there making it. 
Earlier this year we had bullish pronouncements on the number (50 billion) of devices likely to be connected by 2020.
This paper  is really a look at the industrial benefits (in trillions of dollars) of that level of connectivity once the data starts to flow.
From a GE perspective, M2M connectivity is expected to increase the efficiency of the machines it manufacturers - in many case making them interconnected systems and boosting their productivity or lowering their energy consumption. Essentially making them more valuable to their customers. 
The paper therefore places the development of Industrial Internet as an inevitable next  phase in the industrial revolution. That goes: machines (then), to intelligent machines (now), to linked up intelligent machines (2030).
It's also the next step for the Internet of people. The Industrial Internet of machines is where the Internet needs to go having "fizzled" around 2005 in terms of endless accelerating growth, says the report.  The arrival of the Industrial Internet will pick up the slack. 
This is worth a read -  whether it can possibly be relied upon as an economic projection is doubtful, but if you need your M2M enthusiasm stiffened, this paper - Industrial Internet: pushing the boundaries of minds and machines - will help.

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(1) 11 December 2012 16:48:48 by Michael Elling

Wishful thinking on the part of GE if the lower and middle layers of the stack aren't better addressed and opened.

All digital booms have resulted from three things: shift from private back to public elasticity, normal price elasticity and application elasticity.

GE's focus on the latter and lack of scaling private (VPN) apps/nets onto public infrastructure will limit the upside. All the public nets are built on overpriced protocol stacks as a result of vertically integrated monopoly/duopoly carrier and vendor structures.