Industrial Internet of Things industrial subset of the IoT. The industrial internet of things will enable the creation of new business models by improving productivity, exploiting analytics for innovation, and transforming the workforce. The potential of growth by implementing IIoT is predicted to generate $15 trillion of global GDP by 2030. While connectivity and data acquisition are imperative for IIoT, they are not the end goals, but rather the foundation and path to something bigger. Of all the technologies, predictive maintenance is an "easier” application, as it is applicable to existing assets and management systems. Intelligent maintenance systems can reduce unexpected downtime and increase
Smart lighting photonics are already transforming society just as electronics revolutionized the world in recent decades and it will continue to contribute more in the future. From the statistics, North America’s optoelectronics market grew to more than $20 billion in 2003. The LED (light-emitting diode) market is expected to reach $5 billion in 2007, and the solid-state lighting market is predicted to be $50 billion in 15–20 years, as stated by E. Fred Schubert, Wellfleet Senior Distinguished Professor of the Future Chips Constellation at Rensselaer. Smart lighting Smart lighting is a lighting technology designed for energy efficiency. This may include high efficiency