Development of the Industrial Internet of Things in the Russian Economy

Abstract

The growing global competition for implementation of the 4.0 concept prioritizes issues connected with the shift of the national industry to a digital technology platform. The Industrial Internet of Things (IIoT), based on the Internet of things technology, is currently adopting the position of the main driving force of the industrial revolution, while being one of the key factors for improving production efficiency. Development of the IIoT projects will result in the improvement of industrial efficiency, thereby having an enormous effect on the world economy. As a result, potential consequences will not only enhance the industry itself, but also many other aspects of social life related to it, such as living standards, labor market, education, political system, and etc. This study observes the history and prerequisites for the Industrial Revolution, identifies its main characteristics, and concentrates on the most advanced technologies. The research considers foreign experience in implementation of state programs in the Industry 4.0; defines a role of the Internet of things as a technological basis for a new digital economy; studies the IIoT concept as a key factor in the evolution of the Industrial Revolution; examines main advantages of the IIoT, its impact and projected consequences for the world economy; provides examples of implementation of the IIoT projects in the Russian and foreign markets; analyzes specific characteristics of the IIoT development in the Russian economy, as well as the factors hindering implementation of the IIoT projects. As a result of this study, priority tasks and prospects for development of the Industrial Internet of Things were outlined and evaluated.