ABSTRACT
The global market of Industrial Internet of Things (IIoT) is presumed to annually increase by 8.06% from the year 2018-2023, across the various industries such as manufacturing, oil & gas, healthcare, transportation, logistics, and mining. The Industrial Internet-enabled organizations use sensor nodes, software, and Machine-to-Machine (M2M) communication to collect data from material things or devices. Industrial Internet will lead to an increase in the speed and efficiency in a wide range of industries such as aviation, railways, mining, power generation, and healthcare systems. According to GE, there exist three phases in the development of the Industrial Internet, which are as follows: Intelligent machines, advanced analytics, and connected people are the key elements behind the development of Industrial Internet. The catalysts behind the development of Industrial Internet are as follows: 2.2.4.1 Industrial Internet has brought a wave of transformation in the industrial sector with the help of available resources such as smart sensor nodes, software, and M2M communication.
