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
Smart grids by country Department of Energy and Climate Change under the Cameron-Clegg coalition from 2010 - 2015 and now under Department for Business, Energy and Industrial Strategy and Office of Gas and Electricity Markets, the (rollout of) smart meters are estimated to cost £11 Billion, providing the British economy a net £6.7 Billion benefit. Smart Energy UK identifies the different roles of six stakeholders involved in the rollout of smart meters: Support for smart grids became federal policy with passage of the Energy Independence and Security Act of 2007. The law, Title13, sets out $100 million in funding per fiscal year from 2008–2012,