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 city EU has developed a range of programmes under 'Europe's Digital Agenda". In 2010, it highlighted its focus on strengthening innovation and investment in ICT services for the purpose of improving public services and quality of life. Arup estimates that the global market for smart urban services will be $400 billion per annum by 2020. Examples of Smart City technologies and programs have been implemented in Singapore, Dubai, Milton Keynes, Southampton, Amsterdam, Barcelona, Madrid, Stockholm, China and New York. Due to the breadth of technologies that have been implemented under the smart city label, it is difficult to distill a precise