Country Spotlights How much can the Industrial Internet of Things Fast-Track Your Economic Growth?
‘Accenture Institute for High Performance’ measured the potential direct and indirect impact of Industrial Internet of Things (IIoT) investments on gross domestic product (GDP) growth. We then analyzed each country’s ability to absorb IIoT benefits. By combining the findings, we were able to project how the IIoT can impact the potential GDP growth by 2030 for 20 different countries.
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The 20 countries in our sample We modelled the IIoT’s potential impact on the GDPs of 20 developed and emerging economies that generate over 3/4 of the world’s economic output.
Countries analyzed Countries not analyzed
Countries sampled Australia Brazil Canada China Denmark Finland France Germany India Italy
Japan Netherlands Norway Russia South Korea Spain Sweden Switzerland United Kingdom United States
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What we found US$ trillion
Cumulative GDP Impact of IIoT 16 14 12 10 8 6 4 2 0 2030
2029
2028
2027
2026
2025
With greater investment and the enactment of key measures to absorb IIoT technologies, that figure could rise to US$14.2 trillion.
2024
2023
With additional measures
In the 20 countries we analyzed, current policy and investment trends in IIoT products and technologies point to cumulative real GDP contributions of US$10.6 trillion by 2030.
4
2022
2021
2020
2019
2018
2017
2016
2015
Under current conditions
Source: Accenture and Frontier Economics
Australia US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$136 billion to Australia’s GDP in the next 15 years under current conditions.
180 160
However, by taking additional measures, such as opening up the economy to IIoT trade, this figure could grow to US$158 billion.
140 120 100 80 60 40 20
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
Under current conditions
2019
2018
2017
2016
2015
0
With additional measures
Source: Accenture and Frontier Economics
Brazil US$ billion
Cumulative GDP Impact of IIoT 60
The IIoT is projected to add US$39 billion to Brazil’s GDP in the next 15 years under current conditions.
50
However, by taking additional measures, such as increasing the supply of IIoT skills within the workforce, this figure could grow to US$48 billion.
40
30
20
10
0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Under current conditions
With additional measures
Source: Accenture and Frontier Economics
5
Canada US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$277 billion to Canada’s GDP in the next 15 years under current conditions.
350
300
However, by taking additional measures, such as encouraging the uptake of IIoT goods and services among consumers, this figure could grow to US$326 billion.
250
200
150
100
50
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
0
With additional measures
Under current conditions
Source: Accenture and Frontier Economics
China US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$497 billion to China’s GDP in the next 15 years under current conditions.
2,000 1,800
However, by taking additional measures, such as improving its research ecosystem, this figure could grow to US$1,824 billion.
1,600 1,400 1,200 1,000 800 600 400 200 0 2030
2029
2028
2027
2026
2025
2024
With additional measures
2023
2022
2021
6
2020
2019
2018
2017
2016
2015
Under current conditions
Source: Accenture and Frontier Economics
Denmark US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$56 billion to Denmark’s GDP in the next 15 years under current conditions.
100 90
However, by taking additional measures, such as increasing government R&D in IIoT, this figure could grow to US$88 billion.
80 70 60 50 40 30 20 10
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
Under current conditions
2019
2018
2017
2016
2015
0
With additional measures
Source: Accenture and Frontier Economics
Finland US$ billion
Cumulative GDP Impact of IIoT 90
The IIoT is projected to add US$68 billion to Finland’s GDP in the next 15 years under current conditions.
80 70
However, by taking additional measures, such as encouraging the spread of knowledge in IIoT throughout society, this figure could grow to US$79 billion.
60 50 40 30 20 10 0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Under current conditions
With additional measures
Source: Accenture and Frontier Economics
7
France US$ billion
Cumulative GDP Impact of IIoT 700
The IIoT is projected to add US$351 billion to France’s GDP in the next 15 years under current conditions.
600
However, by taking additional measures, such as improving IIoT security for consumers and businesses, this figure could grow to US$626 billion.
500
400
300
200
100
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
0
With additional measures
Under current conditions
Source: Accenture and Frontier Economics
Germany US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$593 billion to Germany’s GDP in the next 15 years under current conditions.
800 700
However, with additional measures, such as the government encouraging consumer trust in IIoT offerings, this figure could grow to US$700 billion.
600 500 400 300 200 100
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
With additional measures
Source: Accenture and Frontier Economics
8
2020
Under current conditions
2019
2018
2017
2016
2015
0
Netherlands US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$167 billion to the Netherlands’ GDP in the next 15 years under current conditions.
300
250
However, by taking additional measures, such as increasing the supply of IIoT skills within the workforce, this figure could grow to US$252 billion.
200
150
100
50
0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Under current conditions
With additional measures
Source: Accenture and Frontier Economics
India US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$37 billion to India’s GDP in the next 15 years under current conditions.
50 45
However, by taking additional measures, such as improving the telecommunications infrastructure, this figure could grow to US$47 billion.
40 35 30 25 20 15 10 5
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
Under current conditions
2019
2018
2017
2016
2015
0
With additional measures
Source: Accenture and Frontier Economics
9
Italy US$ billion
Cumulative GDP Impact of IIoT 250
The IIoT is projected to add US$157 billion to Italy’s GDP in the next 15 years under current conditions.
200
However, by taking additional measures, such as encouraging more investment in R&D, this figure could grow to US$197 billion.
150
100
50
0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
With additional measures
Under current conditions
Source: Accenture and Frontier Economics
Japan US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$960 billion to Japan’s GDP in the next 15 years under current conditions.
1,200
1,000
However, by taking additional measures, such as encouraging consumer consumption of IIoT offerings, this figure could grow to US$1,127 billion.
800
600
400
200
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
With additional measures
Source: Accenture and Frontier Economics
10
2020
2019
Under current conditions
2018
2017
2016
2015
0
Norway US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$159 billion to Norway’s GDP in the next 15 years under current conditions.
200 180
However, by taking additional measures, such as encouraging entrepreneurial activity in IIoT, this figure could grow to US$183 billion.
160 140 120 100 80 60 40 20 0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Under current conditions
With additional measures
Source: Accenture and Frontier Economics
Russia US$ billion
Cumulative GDP Impact of IIoT 25
The IIoT is projected to add US$15 billion to Russia’s GDP in the next 15 years under current conditions.
20
However, by taking additional measures, such as companies incorporating IIoT technology into their working practices, this figure could grow to US$20 billion.
15
10
5
0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Under current conditions
With additional measures
Source: Accenture and Frontier Economics
11
South Korea US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$247 billion to South Korea’s GDP in the next 15 years under current conditions.
350
300
However, by taking additional measures, such as easing access to capital for IIoT projects, this figure could grow to US$295 billion.
250
200
150
100
50
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
Under current conditions
2019
2018
2017
2016
2015
0
With additional measures
Source: Accenture and Frontier Economics
Spain US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$108 billion to Spain’s GDP in the next 15 years under current conditions.
160 140
However, by taking additional measures, such as encouraging collaboration between universities and industries around IIoT innovation, this figure could grow to US$137 billion.
120 100 80 60 40 20
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
With additional measures
Source: Accenture and Frontier Economics
12
2020
Under current conditions
2019
2018
2017
2016
2015
0
Sweden US$ billion
Cumulative GDP Impact of IIoT 250
The IIoT is projected to add US$183 billion to Sweden’s GDP in the next 15 years under current conditions.
200
However, by taking additional measures, such as encouraging society’s willingness to adopt IIoT products, this figure could grow to US$213 billion.
150
100
50
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
Under current conditions
2019
2018
2017
2016
2015
0
With additional measures
Source: Accenture and Frontier Economics
Switzerland US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$157 billion to Switzerland’s GDP in the next 15 years under current conditions.
200 180
However, by taking additional measures, such as increasing the number of researchers in IIoT, this figure could grow to US$182 billion.
160 140 120 100 80 60 40 20
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
Under current conditions
2019
2018
2017
2016
2015
0
With additional measures
Source: Accenture and Frontier Economics
13
United Kingdom US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$303 billion to the United Kingdom’s GDP in the next 15 years under current conditions.
600
500
However, by taking additional measures, such as companies hiring more people with skills related to the IIoT, this figure could grow to US$531 billion.
400
300
200
100
0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
With additional measures
Under current conditions
Source: Accenture and Frontier Economics
United States US$ billion
Cumulative GDP Impact of IIoT The IIoT is projected to add US$6,132 billion to the United States’ GDP in the next 15 years under current conditions.
8,000 7,000
However, by taking additional measures, such as improving the country’s broadband infrastructure, this figure could grow to US$7,146 billion.
6,000 5,000 4,000 3,000 2,000 1,000 0 2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
With additional measures
Source: Accenture and Frontier Economics
14
2020
2019
2018
2017
2016
2015
Under current conditions
Where next? To find out more:
The Growth Game-Changer: How the Industrial Internet of Things can drive progress and prosperity
Read the full report The Growth Game-Changer: How the Industrial Internet of Things can drive progress and prosperity
Visit the website www.accenture.com/iiot Follow the conversation @AccentureStrat Learn about the Accenture Institute for High Performance www.accenture.com/institute
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About the Accenture Institute for High Performance The Accenture Institute for High Performance develops and publishes practical insights into critical management issues and global economic trends. Its worldwide team of researchers connects with Accenture’s consulting, technology and outsourcing leaders to demonstrate how organizations become and remain high performers through original, rigorous research and analysis.
About Accenture Accenture is a global management consulting, technology services and outsourcing company, with approximately 319,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become highperformance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
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