Internet of things can also be integrated with the Smart Grid, thereby enabling real-time energy optimization. Measurements, automated controls, plant optimization, health and safety management, and other functions are provided by a large number of networked sensors. The term industrial Internet of things (IIoT) is often encountered in the manufacturing industries, referring to the industrial subset of the IoT. IIoT in manufacturing could generate so much business value that it will eventually lead to the Fourth Industrial Revolution, so the so-called Industry 4.0. It is estimated that in the future, successful companies will be able to increase their revenue through Internet of things
Home automation also be accessible off-site through the Internet. While there are many competing vendors, there are very few worldwide accepted industry standards and the smart home space is heavily fragmented. Manufacturers often prevent independent implementations by withholding documentation and by litigation. The home automation market was worth US$5.77 billion in 2013, predicted to reach a market value of US$12.81 billion by the year 2020. Early home automation began with labour-saving machines. Self-contained electric or gas powered home appliances became viable in the 1900s with the introduction of electric power distribution and led to the introduction of washing machines (1904), water heaters