Driving Unconventional Growth through the Industrial Internet of Things and General Electric Blog. The IIoT is a major trend with significant implications for the global economy. Nowadays, the term, the IIoT, has become increasingly more pervasive in the context of industry as digitization has become a business priority for many organizations. So what is the Industrial Internet of Things? IIoT, also known as the Industrial Internet, brings together brilliant machines, advanced analytics, and people at work. It’s the network of a multitude of devices connected by communications technologies that results in systems that can monitor, collect, exchange, analyze, and deliver valuable new insights like never before. These insights can then help drive smarter, faster business decisions for industrial companies. The IIoT is transforming industry —changing the way industries work. Whether it’s enabling predictive analytics to detect corrosion inside a refinery pipe, or providing real-time production data to uncover additional capacity in a plant, or driving visibility and control over your industrial control systems environment to prevent cyber attacks, the IIoT—and the software solutions powered by it—are driving powerful business outcomes. By combining machine-to-machine (M2M) communication, industrial big data analytics, technology, cyber security, the IIoT is driving unprecedented levels of efficiency, productivity, and performance It spans industries representing 62 percent of gross domestic product (GDP) among G20 nations, according to Oxford Economics, 1 including manufacturing, mining, agriculture, oil and gas, and utilities. It also encompasses companies that depend on durable physical goods to conduct business, such as organizations that operate hospitals, warehouses and ports or that offer transportation, logistics and healthcare services. The most conservative independent estimates place spending on the IIoT worldwide at $20 billion in 2012, with spending expected to reach $500 billion by 2020. More optimistic predictions of the value created by the IIoT range as high as $15 trillion of global GDP by 2030.