The Industrial Internet of Things (IIoT) could stimulate $14.2 trillion in GDP worldwide by 2030, even at a time of uncertain economic growth, according to new research by Accenture.
However, Accenture said these potential gains are at risk because neither companies nor governments are taking sufficient actions to put in place the conditions necessary for the wide adoption of new digital technologies.
Accenture surveyed more than 1,400 global business leaders, of whom 736 are CEOs.
IIoT is expected to particularly boost growth in mature markets. If the US were to invest 50% more in IIoT technologies and improve enabling factors, such as its skills and broadband networks, the gain could reach $7.1 trillion by 2030, raising its GDP 2.3% higher in 2030 than trend projections.
Germany could lift its cumulative GDP by $700 billion by 2030 by taking similar additional actions, raising its GDP in 2030 by 1.7% over trend.
For the UK, the numbers are pencilled in at $531 billion and 1.8%. For China, these are $1.8 trillion and 1.3%.